Select your state

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 New Hampshire, prompt payment statutes are designed to ensure that contractors and subcontractors working on construction projects are paid in a timely manner. These laws apply to both public and private construction projects. Under New Hampshire RSA 447:16, contractors and subcontractors must be paid for periodic payments no later than 30 days after the provider of construction services submits a request for payment. For final payments, the payment must be made within 60 days after the end of the month in which the contractor or subcontractor completes the work agreed upon. If payment is not made within these time frames, the unpaid party is entitled to interest at a rate of 18% per year. Additionally, the federal Prompt Payment Act requires federal government agencies to pay contractors within a specific time frame, typically 30 days after receiving an invoice, and prescribes interest penalties for late payments on federal construction projects.

Legal Articles

State Statutes

Individual & Family Legal Plan

As a LegalFix member, you'll get expert legal services from a local law firm that treats you like an important client. Don't wait—be prepared for life's inevitable legal challenges starting today. And ask your employer, credit union, or membership group about preferred pricing opportunities.

Construction law

prompt payment statutes

Individual & Family Legal Plan

Articles

New-Hampshire State Code

New-Hampshire State Code

Construction law

prompt payment statutes

Articles