This form is designed for use between Framing Contractors and Property Owners and may be executed with either a cost plus or fixed fee payment arrangement. This contract addresses such matters as change orders, work site information, warranty and insurance. This form was specifically drafted to comply with the laws of the State of Arizona.
Arizona Prompt Payment Act For Subcontractors
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Arizona
Control #:
AZ-00462-2
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How to get paid (faster) on every construction projectGet licensed.Write a credit policy.Prequalify potential customers.Get the contract in writing.Collect information about the property and other parties.Track your deadlines.Send Preliminary Notice.Submit Detailed Pay Applications or Invoices.More items...?
(1) Prompt payment for subcontractors. A payment clause that obligates the Contractor to pay the subcontractor for satisfactory performance under its subcontract not later than 7 days from receipt of payment out of such amounts as are paid to the Contractor under this contract.
200dA 'Payment Notice' is the document the contractor (the employer) serves the subcontractor (the employee) providing details of what's payable and why. This is known as the 'Notified Sum' and this is what will be paid on the 'Final Date for Payment' (see below).
Federal Laws The US Prompt Payment Act requires federal construction contracts to include a prompt payment clause. This requires the prime to pay subcontractors for satisfactory performance within seven days of receipt of payment.
To summarise, a client is not obliged or entitled to directly pay a sub-contractor for works carried out on a project as there is no direct contractual relationship between the two parties (unless a collateral warranty between the two parties is present).
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Arizona's Prompt Payment Act requires that persons who supply labor or material's on construction projects be paid promptly. Damage to the Owner, Contractor, or another Subcontractor. 8.Arizona requires progress payments to be made on all construction projects lasting 60 days or more. Prompt pay rights of contractors and subcontractors, the Arizona Builders Alliance acted quickly to convince the Arizona Legislature to amend the PPA. Prompt Payment Acts and Retainage. 1. Public works payment bond statute provides legal fees for successful claimants. Caveat Contractor: Arizona Court Of Appeals Interprets Prompt Pay Act As "Prompt Billing Act" To Deny Relief To Unpaid Contractor. Court Finds Arizona's Prompt Payment Act does not Apply to Federal Projects in a Subcontractor Payment Dispute.