Contracts Bulletin: Before You Cash That Check
Part 3 of this SMACNA Contracts Bulletin covers the risks involved in accepting partial payment on a project and how cashing certain checks could result in a subcontractor unwittingly giving up their rights to full payment.
Part 3 of this SMACNA Contracts Bulletin covers the risks involved in accepting partial payment on a project and how cashing certain checks could result in a subcontractor unwittingly giving up their rights to full payment.
Topics covered in this bulletin include:
- Defining an “Accord and Satisfaction”
- Uniform Commercial Code
- When to Call a Lawyer
- Subcontractor Remedies & Case Law
- Triangle Construction
- OMNI
- Precision Drywall & Painting
- Options
This bulletin was prepared by SMACNA’s general counsel. All members are encouraged to read this latest update.
Jun 1, 2020 — Contracts Bulletin
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Jan 9, 2022 - This bulletin will discuss the basics for effectively implementing and incorporating changes into agreements, and will address how standard contracts, such as the American Institute of Architects.
Jan 9, 2022 - President Biden signed Executive Order 14042, “Ensuring Adequate COVID Safety Protocols for Federal Contractors.”
Jun 4, 2021 - The contract between my client and its customer set a specific production schedule, and had incentives and penalties if certain deadlines were not met. My client’s customer was demanding completion on schedule, and threatening to enforce penalties.