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Holland & Knight LLP

New York's 5 Percent Retainage Law Underscores Construction Contract Drafting

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New York Gov. Kathy Hochul on Nov. 17, 2023, signed Senate Bill S3539 (Retainage Amendment), which amended Sections 756-a and 756-c of the New York General Business Law, commonly referred to as the Prompt Payment Act. The...more

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