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Ohio Prompt Payment Act Update

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.

Runtime: 87 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Purpose of Ohio's Prompt Payment Act

  • Public Policy

Key Provisions of the Prompt Payment Act

  • 10-Day Rule
  • Right to Withhold
  • Penalty Interest
  • Recovery of Attorney Fees

Retainage Disputes

Statute of Limitations

Surety Liability

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Ian H. Frank, Esq.

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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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 401327
Published 2017
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