Episode Summary:
In this comprehensive episode, host Leon Mead breaks down the Nevada Prompt Payment Act, explaining its unique features, requirements, and implications for contractors in Nevada. The episode covers the act's origins from the Venetian Resort case, payment timelines, change order provisions, and remedies available to contractors when payments are delayed.
Key Timestamps:
00:01 - Show Introduction
00:06 - Overview of Nevada Prompt Payment Act
03:45 - Historical Background (Venetian Resort Case)
07:30 - How the Act Works & Payment Timelines
12:15 - Retention Rules and Withholding Funds
17:20 - Change Order Provisions
22:30 - Contract Termination Rights
27:45 - Liability and Legal Implications
32:15 - Disputes and Unresolved Issues
38:56 - Show Outro
About the Show:
The BLDR Law Podcast provides insights into Nevada's construction law, helping contractors, subcontractors, and industry professionals navigate complex legal matters. Hosted by Leon Mead of the Mead Law Group, the show delivers practical legal knowledge for construction industry stakeholders.
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