Most banks offer basic online billing services for free, and you can set up automatic billing payments to avoid late fees. Online payment is a simple process, for example: logging into your account on the Verizon website, then navigating to the Billing section, clicking on it, you will be prompted to enter your bank account number and other information. Then authorizing the bank to pay the bill for you.
Payment on public projects is governed by a few different New York prompt pay provisions, depending on which governmental agency is commissioning the work. These statutes are the NY State Fin. Law §179-e to 179-p, the NY Gen Mun. Law §100 & 106(b), and the NY Pub. Auth. Law §2880. The NY State Finance Laws cover projects commissioned by any state agency. NY General Municipal Laws cover projects entered into with political subdivisions suc…
Prompt Pay on Private Projects
The New York prompt pay provisions governing private projects are found under the NY Gen. Bus. §§756 to 758.These provisions apply to all private projects with a contract price of $150,000 within the state, minus certain types of residential development projects. Furthermore, these payment provisions only apply to project participants below the sub-subcontractor tier.
New York State Prompt Pay Act. 1 Elements and Case Citations. Except in a case where the obligation of an insurer is not reasonably clear, or when there is a reasonable basis supported by specific information available for review by the superintendent that such claim was submitted fraudulently, such insurer shall pay the claim to a policyholder …
In 2003, the New York legislature enacted the Prompt Payment Act (PPA), set forth in sections 756-758 of Article 35-E of the General Business Law, in an effort to facilitate and expedite payment disputes between owners and contractors and between contractor and subcontractors on certain private commercial construction projects.
Nov 13, 2020 · Projects Covered by Prompt Payment in New York. The state of New York’s prompt payment provisions are split into two sections, covering both private and public projects. These statutes govern the timing of all payments on construction projects, and impose penalties for late payment in the form of interest. Private Projects