COVID-19 notwithstanding, every subcontractor has run into payment issues at some time. Now, more than ever, before signing anything, a subcontractor should carefully review payment provisions and procedures included in any contract. This recently revised SMACNA Contracts Bulletin alerts members to payment and retainage issues they need to be especially mindful of when signing any future contracts.
Topics covered in this bulletin:
- Factors the Contribute to Subcontractor Nonpayment
- Key Questions to Ask When Reviewing a Subcontractor Agreement
- Subcontractor Payment Rights Under ConsensusDocs 750
- Other Form Contracts
This Contracts Bulletin was prepared by SMACNA’s general counsel, and all Members are strongly encouraged to read the update.
Contracts Bulletin - Payment and Retainage