Pay When/If Paid Clauses – What You Really Need to Know
Recorded On: 11/29/2011
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Many subcontract agreements contain a provision that conditions the payment to the subcontractor on the general contractor’s receipt of payment from the project owner – so called “pay when paid” and “pay if paid” clauses. This presentation reviews the history of these clauses; provides tips on how to spot them; and discusses their effects when there is a performance or payment bond claim.
John Morris
Partner, Surety & Construction Group, McElroy Deutsch Mulvaney and Carpenter, LLP
John Morris, Esq. has over 20 years of experience handling construction and surety issues. He is a partner in the surety and construction group at McElroy Deutsch Mulvaney and Carpenter, LLP in Morristown, NJ. His practice focuses on counseling surety and construction clients.
James E Rudnik
Director of Claims & Philadelphia Regional Manager, Cashin Spinelli and Ferretti, LLC
James E Rudnik, Esq. the Director of Claims and Philadelphia Regional Manager for Cashin Spinelli and Ferretti, LLC, a Surety Consulting and Construction Management firm located in Horsham, PA. Mr. Rudnik has over 30 years of surety claims experience and has previously taught claims at the William J. Angell Surety School and several NASBP CLE Programs as well as Regional and Annual Meetings.