In 2006, New Jersey enacted the “Prompt Payment Act,” codified at N.J.S.A. § 2A:30A-1, et seq. (the “Act” or “PPA”). The Act requires the prompt payment of contractors, subcontractors, sub-subcontractors, and material...more
Introduction - On November 17, 2023, amendments to New York’s Prompt Payment Act (the “Act”) were signed into law by Governor Kathy Hochul and effective immediately. The amendments apply to all private construction contracts...more
It is no secret that the market has been consumer friendly over the past couple of years and has caused an uptick in consumer spending on contractors to perform renovations on their homes. However, as the times have slightly...more