January 9, 2026 Recent Amendment to New York Prompt Payment Act Confirms That Construction Contract Provision Requiring Retainage Greater Than 5% Is Void and UnenforceableOn December 19, 2025, New York amended the “Void provisions” section (General Business Law (“GBL”) § 757) of the New York Prompt Payment Act (the “PPA”) to make clear that any provision in a construction…Featured
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