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Venable LLP

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

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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

Jones Day

Amendments to Queensland Security of Payment Legislation

Jones Day on

The security of payment regime in Queensland has undergone significant reform in recent years. Since the introduction of the Building Industry Fairness (Security of Payment) Act 2017 (Qld), the regime has remained the subject...more

Smith Anderson

Significant Changes to the North Carolina Anti-Indemnity Statute

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North Carolina recently amended its “anti-indemnity” statute, which generally applies to construction-related contracts and agreements with design professionals. At a high level, the new law places additional restrictions on...more

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