Maryland HB1478 mandates contractors to pay subcontractors and suppliers at least 95% of undisputed amounts within days of receiving State payments.

Maryland HB1478 amends the State Finance and Procurement law to require contractors to pay subcontractors and suppliers at least 95% of undisputed amounts within days of receiving progress or final payments from the State. If a contractor withholds payment, they must notify the subcontractor or supplier in writing and provide a copy of the notice to the procurement officer. This alteration aims to ensure prompt payment for subcontractors and suppliers under State procurement contracts.

Maryland HB1478 mandates contractors to pay subcontractors and suppliers at least 95% of undisputed amounts within days of receiving State payments.

Maryland HB1478 amends the State Finance and Procurement law to require contractors to pay subcontractors and suppliers at least 95% of undisputed amounts within days of receiving progress or final payments from the State. If a contractor withholds payment, they must notify the subcontractor or supplier in writing and provide a copy of the notice to the procurement officer. This alteration aims to ensure prompt payment for subcontractors and suppliers under State procurement contracts.