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Payment Terms Prompt Payment Contract Terms

Barnea Jaffa Lande & Co.

Get ready for quarterly account-settling between service contractors and service recipients in Israel

As we advised earlier, on January 1, 2024, regulations came into effect in Israel to increase the enforcement of labor laws (the wage components comprising the value of an hour of work by a contract employee) (“the...more

Venable LLP

New Law Sets Maximum Construction Contract Retainage at 5% in New York

Venable LLP on

On November 17, 2023, Governor Kathy Hochul signed a bill into law amending Sections 756-a and 756-c of the New York State Prompt Payment Act (N.Y. Gen. Bus. Law §756 (McKinney 2009)) governing restrictions on retainage and...more

Holland & Knight LLP

Ministerio de Comercio reglamentó el pago en Plazos Justos en Colombia

Holland & Knight LLP on

El Ministerio de Industria y Comercio (MinComercio) de Colombia, el 22 de diciembre de 2020, expidió el Decreto 1733 de 2020, por el cual se reglamenta la Ley 2024 de 2020, en lo respectivo a la obligación de pago en plazos...more

Buchalter

Lump Sum or Cost-Plus Contract: You Can’t Have It Both Ways

Buchalter on

It goes without saying that in the world of construction contracts … words matter! There is language in the Goes decision that a cost-plus contract imposes upon the contractor an implied duty to incur reasonable and proper...more

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