§1111. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1993, c. 461, §1 (NEW).] 1. Billing period. “Billing period” means the time period for payment agreed to by 2 parties or, in the absence of an agreement, the calendar month within which work […]
§1112. Application This chapter does not apply to contracts entered into by the Department of Transportation. [PL 1993, c. 461, §1 (NEW).] SECTION HISTORY PL 1993, c. 461, §1 (NEW).
§1113. Owner’s payment obligations Payment to a contractor for work is subject to the following terms. [PL 1993, c. 461, §1 (NEW).] 1. Contractual agreements. The owner shall pay the contractor strictly in accordance with the terms of the construction contract. [PL 1993, c. 461, §1 (NEW).] 2. Invoices. If the construction contract […]
§1114. Contractor’s and subcontractor’s payment obligations Payment to a subcontractor for work is subject to the following conditions. [PL 1993, c. 461, §1 (NEW).] 1. Contractual agreements. The contractor or subcontractor shall pay a subcontractor or material supplier strictly in accordance with the terms of the subcontractor’s or material supplier’s contract. [PL 1993, […]
§1115. Errors in documentation 1. Invoice errors. If an invoice is filled out incorrectly or incompletely or if there is any defect or impropriety in an invoice submitted, the owner, contractor or subcontractor must contact the person submitting the invoice in writing within 10 working days of receiving the invoice. If the contractor or subcontractor […]
§1116. Retainage 1. Payment. If payments under a construction contract are subject to retainage, any amounts retained during the performance of the contract and due to be released to the contractor upon completion must be paid within 30 days after final acceptance of the work. [PL 1993, c. 461, §1 (NEW).] 2. Retainage for […]
§1117. Prepayment or advance payment This chapter in no way may be construed to prohibit an owner, contractor or subcontractor from making advance payments, progress payments or from prepaying if agreements or other circumstances make those payments appropriate. All such payments must be made promptly and are subject to the interest, penalty and other provisions […]
§1118. Disputes; penalties; attorney’s fees 1. Withholding payment. Nothing in this chapter prevents an owner, contractor or subcontractor from withholding payment in whole or in part under a construction contract in an amount equalling the value of any good faith claims against an invoicing contractor, subcontractor or material supplier, including claims arising from unsatisfactory job […]
§1119. Contracts involving federal funds Notwithstanding any provision of this chapter, language at variance to the requirements of this chapter may be included in contracts when that variance is required by any law, regulation or grant agreement conditioning the receipt or expenditure of federal aid. [PL 1993, c. 461, §1 (NEW).] SECTION HISTORY PL […]
§1120. Owner exclusion This chapter does not apply to contracts for the purchase of materials by a person performing work on that person’s own real property. [PL 1993, c. 461, §1 (NEW).] SECTION HISTORY PL 1993, c. 461, §1 (NEW).
