• Pay Up, Or . . . Pay Even More:  Ohio’s Prompt Pay Act Establishes Expeditious Payment Requirements With Serious Penalties
  • June 23, 2011 | Author: Matthew D. Harper
  • Law Firm: Eastman & Smith Ltd. - Toledo Office
  • Ohio’s Prompt Payment Law (Act), codified in Ohio Revised Code 4113.61, establishes requirements for contractors, subcontractors and material suppliers to expedite payment to lower tier subcontractors and material suppliers after they have received payment. The Act is aimed at preventing contractors who have received payment themselves from wrongly delaying payment to lower tier subcontractors and material suppliers. The Act imposes severe penalties for failure to comply with its strict payment requirements.