News & Analysis as of

Construction Industry Prompt Payment Payment Terms

BCLP

HK Security of Payment Ordinance - New Rules Regarding Setting Aside and Enforcement of Adjudication Determinations

BCLP on

On 11 July 2025, the Hong Kong Government gazetted the Construction Industry Security of Payment Rules (“Rules”). The Rules, made by the Chief Judge of the High Court under section 50 of the Construction Industry...more

DarrowEverett LLP

Capturing the Sun: State Prompt Payment Acts' Effects on Solar Construction

DarrowEverett LLP on

As the energy sector continues to expand, developers and contractors looking to expand their footprint are crossing state lines to construct energy projects. This is a good strategy for applying the same, successful...more

Venable LLP

New Law Sets Maximum Construction Contract Retainage at 5% in New York

Venable LLP on

On November 17, 2023, Governor Kathy Hochul signed a bill into law amending Sections 756-a and 756-c of the New York State Prompt Payment Act (N.Y. Gen. Bus. Law §756 (McKinney 2009)) governing restrictions on retainage and...more

Williams Mullen

New Amendments to Virginia’s “Prompt Payment” Law take effect July 1, 2023

Williams Mullen on

In 2022, the General Assembly enacted significant changes to Virginia Code §§ 2.2-4347, 2.2-4354 and 11-4.6 that mandated prompt payment by owners, contractors and subcontractors on public and private construction projects...more

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