On April 27, 2022, the Virginia General Assembly passed Senate Bill 550, which makes “pay when paid” and “pay if paid” clauses unenforceable in most circumstances and requires both public and private construction contracts to...more
5/5/2022
/ Construction Contracts ,
Construction Industry ,
Contract Terms ,
General Contractors ,
New Legislation ,
Pay When Paid ,
Prime Contractor ,
Private Sector ,
Public Projects ,
Subcontractors ,
Subcontracts
A new Virginia law invalidates any mechanic’s lien or payment bond waiver signed before work has commenced.
The Governor recently signed new legislation into law, effective July 1, 2015, that invalidates waivers of...more