Relates to payment and retainage in construction contracts; authorizes contractors to invoice owners upon substantial completion of a project.
Require construction project owners to timely pay contractors
Construction contracts; provide certain requirements regarding payment and retainage.
Require private construction project owner timely pay contractors
Relating to retainage in construction contracts; prescribing an effective date.
Construction: contracts; prompt payment law; establish for contractors to pay subcontractors and suppliers in a timely manner. Creates new act.
Construction: contracts; prompt payment law; establish for contractors to pay subcontractors and suppliers in a timely manner. Creates new act.
Relates to provisions governing contracting between state agencies and not-for-profit organizations including new, renewal, and extension contracts and advance payments and interest for such contracts; repeals provisions relating to interest payments.
Relating to retainage under certain construction contracts.
Construction contracts; provide certain requirements regarding retainage.