The Arizona Legislature recently made significant changes to the laws dealing with contracts on private construction projects in the State of Arizona. The new laws govern timing of payment from the owner to the general contractor; from the general to the subcontractors; and from subcontractors to suppliers. The Prompt Pay Statutes also give contractors and subcontractors the right to suspend or terminate work for non-payment. Some of the highlights of the Statutes are set out below. A. Prompt Pay Statute - Owner payments An owner must pay the contractor within seven calendar days after the...
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