(1)Purpose. 201 CMR 14.00 sets forth procedures for operation of private arbitration services program within the Office of Consumer Affairs and Business Regulation (OCABR) to consider disputes between homeowners and contractors, or subcontractors, and in the case of deceased contractor, or subcontractors, their administrator, executor or personal representative, as required by M.G.L. c. 142A, § 4. It is designed to promote the speedy, efficient and fair disposition of disputes arising out of the improvement of an owner-occupied, one-to-four family residential home by a registered contractor or subcontractor. It also sets forth procedures for homeowner access to a Guaranty Fund. The Guaranty Fund, established by M.G.L. c. 142A, § 5, compensates homeowners for actual losses they incur as a result of registered contractor or subcontractor conduct found by an approved arbitrator or court of competent jurisdiction to be work performed in a poor or unworkmanlike manner or which is a common law violation or a violation of any statute or regulation designed for the protection of consumers.(2)Applicable Regulations. Other regulations applicable to M.G.L. c. 142A include:(a)201 CMR 18.00: Registration and Enforcement of Home Improvement Contractor Program promulgated by the director of the Office of Consumer Affairs and Business Regulation.(b)940 CMR 8.00: Mortgage Brokers and Mortgage Lenders promulgated by the Office of the Attorney General.(c)209 CMR 42.00: The Licensing of Mortgage Lenders and Mortgage Brokers promulgated by the Division of Banks and Loan Agencies.(3)Scope. 201 CMR 14.00 shall apply to all home improvement transactions with a written contract between a homeowner and a contractor or subcontractor registered with the Office of Consumer Affairs and Business Regulation.Amended by Mass Register Issue 1314, eff. 6/3/2016.