Chapter 5 Prompt Payment Acts

Index

• Section 5.1 Introduction
• Section 5.2 Missouri Public Prompt Payment Act
• Section 5.3 Affected Agencies and Contracts
• Section 5.4 Lump-Sum Contract Payment
• Section 5.5 Monthly Progress Payments
• Section 5.6 Retention
• Section 5.7 Final Payment
• Section 5.8 When Is Payment Deemed to Be Made?
• Section 5.9 State and Prime Contractor’s Right to Withhold Payment
• Section 5.10 Interest Penalty Against State
• Section 5.11 Importance of Documenting Payment Requests
• Section 5.12 Prime Contractor’s Obligations Regarding Payments Received
• Section 5.13 Notification of Defective Work
• Section 5.14 Interest Penalty Against Prime Contractor
• Section 5.15 Protection of “Pay When Paid” Clauses
• Section 5.16 Jurisdiction for Collection of Late Payment Interest Penalty
• Section 5.17 Attorney Fees and Collection Costs
• Section 5.18 “No Damage for Delay” Clause
• Section 5.19 Introduction
• Section 5.20 When Is Payment Due?
• Section 5.21 Penalties for Late Payment
• Section 5.22 Retainage Issues
• Section 5.23 Federal Prompt Payment Act
• Section 5.24 Affected Agencies and Contracts
• Section 5.25 When Is Payment Due?
• Section 5.26 Existence of a Dispute
• Section 5.27 “Receipt” of Proper Invoice or Proper Request for Progress Payment
• Section 5.28 Invoice or Pay Request Must Be “Proper”
• Section 5.29 Proper Invoice
• Section 5.30 Proper Request for Progress Payment
• Section 5.31 Contract Modifications
• Section 5.32 Notification by Agency in Event of Improper Invoice or Pay Request
• Section 5.33 When Is Payment Deemed to Be Made?
• Section 5.34 Interest Penalty for Late Payment
• Section 5.35 Collection of Interest
• Section 5.36 Prime Contractor’s Obligations Regarding Payments Received From the Agency
• Section 5.37 Notification Regarding Defective Work
• Section 5.38 Prime Contractor’s Payment Responsibilities With Subcontractors; Flow-Down Clauses, Payment, and Interest Clauses
• Section 5.39 Prime Contractor’s Right to Withhold Payment From Subcontractors
• Section 5.40 Subcontractor’s Claim for Interest Penalty
• Section 5.41 Conclusion