Missouri HB1915 establishes rules for construction contracts to ensure timely payments and clear communication among contractors, subcontractors, and.
Missouri HB1915 sets forth rules governing construction contracts to ensure timely payments and clear communication among contractors, subcontractors, and owners. The bill mandates that owners must pay contractors within 40 days of receiving an invoice or pay application, and contractors must pay subcontractors within seven days of receiving payment from the owner. It prohibits agreements that allow withholding payments for disputes unrelated to the current contract or for amounts exceeding the dispute.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.