Sarah Biser

Fox Rothschild LLP

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New York Caps Retainage at 5% On Private Construction Projects, Permits Contractors to Submit Final Invoice Upon Substantial...

New York has made changes to its Prompt Payment Act (N.Y. Gen. Bus. Law §756) Legislation, which Gov. Kathy Hochul signed into law on November 17, 2023, provides that: • retainage on private construction projects is capped...more

12/8/2023 / Construction Contracts , Construction Industry , Construction Project , Contractors , Final Payments , New York , Retainage , Subcontractors

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Sarah Biser

Fox Rothschild LLP

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Latest Posts › Retainage

New York Caps Retainage at 5% On Private Construction Projects, Permits Contractors to Submit Final Invoice Upon Substantial...

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