(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