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Prompt Pay Act Will Cough Up Interest, Too if Parties Aren't Choking On A Payment Dispute

Wednesday, February 04, 2009 05:05 pm

 
Prompt Pay Act Will Cough Up Interest, Too--if Parties Aren't Choking On A Payment Dispute

A recent case illustrates the ins and outs of collecting interest on withheld monies via the Prompt Payment Act. Read on to learn three key lessons that will help you collect from the feds.

PCL Construction Services, Inc.(PCL)performed under a United States Department of the Interior, Bureau of Reclamation(USBR)contract to build a visitor center and parking structure at the Hoover Dam.In response to a PCL invoice, USBR notified the contractor that it was withholding money--approximately $1.3 million--to protect its interests"in accrued liquidated damages, out¬standing required submittals, and credits due...for changes and/or reductions in the work."

In a separate case, a court found that the government had improp [...]

 
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