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Adding a prompt payment clause

New YorkPrompt Payment

I will would like to add a "Prompt Payment Clause" to our "Affidavit of Payment Form" to reinsure payment. Can someone help me with the verbiage? Our Affidavit of Payment is for Subcontractor (me) to Prime Contractor.

4 replies

Apr 21, 2022
You can look it up on google or youtube and many other sources Elastic man
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Apr 21, 2022
Add -- "This Affidavit is submitted under the New York Prompt Payment Act, Article 35E of the General Business Law. Any omission to make payment under the terms of the Prompt Payment Act will result in additional interest under the Act and other consequences as set forth in the Act."
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May 16, 2023

It is advised to consult a legal specialist to ensure compliance with local laws.

Please note that seeking assistance from a legal specialist is always recommended to ensure the clause aligns with your specific needs and complies with local laws and regulations.

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May 17, 2023

Adding a 'Prompt Payment Clause' to your 'Affidavit of Payment Form' is a smart move as a subcontractor. To ensure effective wording, it's important to consult a legal professional who can provide tailored advice based on your specific requirements and jurisdiction. In my experience, utilizing legal tools and resources like contract templates and online legal services has been helpful when dealing with law-related issues. These tools can offer guidance and ensure that your documents are compliant with relevant laws. I usually use this service https://gradesfixer.com/free-essay-examples/law-of-life/​​​​​​​ which helped me many times. Remember to prioritize clarity, defining 'prompt payment' and addressing consequences for late or non-payment. Seek expert advice to finalize the verbiage for your clause. Best of luck! 

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