Webinar: September 30, 2020 10:00 am - 11:00 am
Changes to PA Contractor/Subcontractor Payment Act (CASPA)
Presented by: Matt Gioffre, Esq. and Daniel Fierstein, Esq. - Cohen Seglias
CASPA is a powerful tool that helps contractors strictly enforce their contractual payment terms. This tool recently became even more powerful with changes that took effect in October 2018 for new contracts entered into thereafter.
For example, CASPA now arms contractors and subcontractors with the right to suspend work for nonpayment when certain circumstances are satisfied. Moreover, if an owner or contractor withholds payment for a deficiency item?and fails within 14 days to issue a written notice explaining why?then the payment for the completed work must be issued as a matter of law (meaning, the non paying party will have waived the basis for withholding payment if it fails to issue timely notice).
In this seminar, Matt and Dan will review and teach CASPA basics and explain the details and mechanics of the recent changes. They will also explain prompt payment laws in New Jersey and Delaware so that contractors will know how to avail themselves of these powerful tools when working on projects in those states.