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Prompt Payment Payment Terms

BCLP

Payment Notices Under the Construction Act 1996, a Welcome Clarification

BCLP on

In Placefirst Construction Ltd v Car Construction (North East) Ltd [2025] EWHC 100 (TCC), the Technology and Construction Court has shed welcome light on the payment notice requirements of the Housing Grants, Construction and...more

DarrowEverett LLP

Capturing the Sun: State Prompt Payment Acts' Effects on Solar Construction

DarrowEverett LLP on

As the energy sector continues to expand, developers and contractors looking to expand their footprint are crossing state lines to construct energy projects. This is a good strategy for applying the same, successful...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

Williams Mullen

New Amendments to Virginia’s “Prompt Payment” Law take effect July 1, 2023

Williams Mullen on

In 2022, the General Assembly enacted significant changes to Virginia Code §§ 2.2-4347, 2.2-4354 and 11-4.6 that mandated prompt payment by owners, contractors and subcontractors on public and private construction projects...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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