Understand the penalties and remedies available and how to maximize the benefits.
The Prompt Payment Act contains some often misunderstood or overlooked requirements that are critical to protecting project profitability. Cash flow is the lifeblood for most companies, but particularly contractors. Subcontractors, specialty trades and suppliers are sometimes forced to finance the construction of a project as a result of delayed payment from their contracting partners, often resulting in widespread impact to their lending relationships and business operations. This topic will help all project stakeholders understand their obligations, as well as pursue any available rights, under Ohio’s Prompt Payment Act. The material will explain the penalties and remedies available under the Act and help you develop strategies for complying with or maximizing the benefits of the Act.
Agenda
Faculty
Ian H. Frank, Esq.
Frantz Ward LLP
- Partner at Frantz Ward LLP, Construction Practice Group
- Represents contractors, subcontractors, specialty trades, material and equipment manufacturers, design professionals and other project participants in developing, managing, resolving and litigating complex commercial construction disputes
- Frequently represents clients in diverse construction disciplines, including road and bridge construction, heavy civil/tunneling projects, earthwork and utility construction, structural steel fabrication and erection, and all aspects of general trades and commercial building construction
- Chair, Division 9 (Subcontractors and Suppliers) of the American Bar Association Forum on Construction Law
- Chair Emeritus and Marketing Committee Member of ALFA International Construction Practice Group
- Peer-selected to Chambers USA, The Best Lawyers in America and Martindale-Hubbell
- Frequent speaker at national construction industry seminars
- Published author in construction and real estate focused publications
- Can be contacted at [email protected]
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