16-1805. Suspension of performance, when.
16-1805
16-1805. Suspension of performance, when.
If any undisputed payment is
not
made within seven business
days after the payment date established in a contract for private construction
or in this act, the
contractor and any subcontractors, regardless of tier, upon seven additional
business days' written notice
to the owner and, in the case of a subcontractor, written notice to the
contractor, shall, without
prejudice to any other available remedy, be entitled to suspend further
performance until
payment, including applicable interest, is made. The contract time for each
contract affected by
the suspension shall be extended appropriately and the contract sum for each
affected contract
shall be increased by the suspending party's reasonable costs of
demobilization, delay and
remobilization.
History: L. 2005, ch. 156, § 5; July 1.