Public Construction: Interest Rates for Late Payment
Recently, the Massachusetts Appeals Court confirmed the propriety of a strict interpretation of the Prompt Payment Act, M.G.L. c. 149, § 29E (the “PPA”). The PPA enforces strict timelines for payments on private construction projects with original contract prices of $3,000,000 or more. But what does this mean for public construction projects? In short, nothing. […]...