In April 2022, we discussed new amendments to Virginia’s Prompt Payment Act and Wage Theft statute. Although the 2022 amendments changed payment terms for all construction contracts in Virginia, the amended statutes...more
This article is a continuation of Monday’s article, and we will be discussing in detail the new payment terms for all construction contracts in Virginia....more
4/20/2022
/ Breach of Contract ,
Construction Contracts ,
Construction Industry ,
Contractors ,
Good Faith ,
Invoices ,
Non-Payment Clauses ,
Pay if Paid ,
Pay When Paid ,
Payment Systems ,
Subcontractors ,
Virginia ,
Wage Theft
(Part one of a two-part article series)
Confused about “pay-when-paid”, “pay-if-paid” clauses and the requirements of Virginia’s Prompt Payment Act on Virginia construction contracts? A new law intending to change the...more
4/19/2022
/ Breach of Contract ,
Construction Contracts ,
Construction Project ,
Contract Terms ,
Pay if Paid ,
Pay When Paid ,
Payment Systems ,
Prompt Payment ,
Proposed Amendments ,
Public Projects ,
Risk Allocation ,
Subcontractors ,
Virginia
Many general contractors manage the risk of a subcontractor’s financial instability by issuing joint checks to the subcontractor and its suppliers on a project. These arrangements are usually governed by a separate agreement...more
Virginia’s law on the payment of subcontractors and suppliers just got some muscles. For years, Virginia had a statute that made it a crime for any contractor or subcontractor “with the intent to defraud” to retain or use...more
Of the record number of new laws in Virginia, a trio of wage laws will arguably have the biggest impact on contractors changing the way the construction companies operate in Virginia. Virginia statutes on non-payment of...more