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Payment Withheld Due To Unresolved Claims Payment-final; Interest

Wednesday, February 09, 2005 01:02 pm

 
Payment Withheld Due To Unresolved Claims Payment-final; Interest

An Ohio court has allowed a project owner to withhold final payment, without interest, for more than three years due to unresolved claims from disgruntled owners of adjoining property.

The Western Water Company awarded a contract to Fields Excavating, Inc. for construction of a water line in Warren County. The contract stated that final payment would become due after substantial completion of the work and submission of a final payment estimate.

Additionally, a provision in the Supplemental General Conditions of the contract stated that Western Water cou [...]

 
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