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Construction law

prompt payment statutes

Prompt payment statutes are laws that require the payment of contractors and subcontractors within a certain period of time, and prescribe interest and penalties for late payments. In some states these laws only apply to public works construction projects that are funded by the government—and sometimes only to public works projects over a certain dollar amount. There is also a federal Prompt Payment Act for federal construction projects.

In Idaho, prompt payment statutes are designed to ensure that contractors and subcontractors are paid in a timely manner for their work on construction projects. Idaho Code § 67-2301 et seq. governs the prompt payment for public works construction projects, requiring state agencies to pay contractors within 30 days after receipt of an invoice or after delivery and acceptance of the work, whichever is later. If payment is not made within this timeframe, interest may accrue on the unpaid amount. For private construction projects, Idaho does not have a specific prompt payment statute, but the terms of payment would typically be governed by the contract between the parties. Additionally, the federal Prompt Payment Act applies to federal construction projects, requiring federal agencies to pay contractors within a certain period of time and providing for interest penalties for late payments.

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Construction law

prompt payment statutes

Individual & Family Legal Plan

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Idaho State Code

Idaho State Code

Construction law

prompt payment statutes

Articles