News & Analysis as of

Construction Contracts New York Construction Industry

Cole Schotz

Federal Court Limits a General Contractor’s Liability For Its Subcontractor’s Unpaid Union Benefit Contributions Under New York’s...

Cole Schotz on

On January 4, 2022, Labor Law §198-e – known as New York’s Wage Theft Law – went into effect. The Wage Theft Law, which applies to private construction projects, makes the prime/general contractor responsible for unpaid wages...more

Rivkin Radler LLP

May 2025 New York Insurance Coverage Law Update

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Utica National Assurance Company issued a liability policy to Bond Painting Company. Bond’s employee was injured working at a construction project at premises leased by Amazon.com Services Inc. and filed a bodily injury...more

Bressler, Amery & Ross, P.C.

Amendments to New York’s Prompt Payment Act

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

Cozen O'Connor

New York Sets Maximum Construction Contract Retainage at 5% for Private Projects

Cozen O'Connor on

On November 17, 2023, Governor Kathy Hochul signed Senate Bill 3539, amending Section 756-a and Section 756-c of the New York General Business Law (more commonly referred to as the Prompt Payment Act) to set the maximum...more

Fox Rothschild LLP

New York Caps Retainage at 5% On Private Construction Projects, Permits Contractors to Submit Final Invoice Upon Substantial...

Fox Rothschild LLP on

New York has made changes to its Prompt Payment Act (N.Y. Gen. Bus. Law §756) Legislation, which Gov. Kathy Hochul signed into law on November 17, 2023, provides that: • retainage on private construction projects is capped...more

Cole Schotz

New York Amends Its Law on Withholding of Retainage and Final Invoicing on Private Construction Projects

Cole Schotz on

On November 17, 2023, Governor Hochul signed a bill placing significant restrictions on the amount of retainage that can be withheld from contractors and subcontractors, and permitting the earlier submission of final billing...more

White and Williams LLP

The New York Lien Law - Top Ten Things You Ought to Know

White and Williams LLP on

Over the course of my career, I have had the privilege of working with and representing numerous construction lenders (and borrowers/developers) in the financing of some of the largest commercial projects in the United...more

Cole Schotz

New York’s Building Loan Contract: Promises, Promises

Cole Schotz on

Nothing quite sets New York apart from other states’ attempts to balance the interests of construction contractor and construction lender as does New York’s iconic building loan agreement – or, to call it by its technical...more

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