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 Louisiana, prompt payment statutes are designed to ensure that contractors and subcontractors are paid in a timely manner for their work on construction projects. Louisiana Revised Statutes Title 38, Sections 2191 through 2192, specifically address prompt payment for public work projects. According to these statutes, once a public entity has received a proper invoice from a contractor, it has 45 days to make payment. If the public entity fails to pay within this period, the contractor may be entitled to receive interest on the unpaid amount. For private construction projects, the Louisiana Private Works Act (La. R.S. 9:2784) provides similar protections for contractors and subcontractors, requiring payment within 14 days after the owner receives a request for payment, subject to any agreement between the parties. Penalties for late payment may include interest and attorney fees. It's important to note that these laws apply to both public and private construction projects in Louisiana, although the specific terms and timeframes for payment may differ between the two types of projects.