Getting Paid is Important and the Prompt Pay Act Can Help

2019-05-11T08:12:15-05:00May 14th, 2019|Construction Contractor Advisor, Prompt Pay Act|

As this year’s construction projects are in full swing, it’s a good time to review your rights to payment.  Since 2014, the Prompt Pay Act has been a tremendous resource for contractors to recover retainage and interest from upstream contractors and owners for failing to timely pay on a project.  Here are a few highlights from the Prompt Pay Act. Limit on Retainage. Retainage may not exceed 10%. And, when [...]