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Philadelphia Surety Blog

Tag: Pending Legislation

Sureties to the Rescue: Maintenance Bonds Suggested As Remedy to Allow for Timely Release of Retainage

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Pending Legislation on Sep 20, 2016.

The Pennsylvania state legislature has spent considerable time over the last 2-3 years addressing issues in the construction industry. One of the more recent changes under consideration are amendments to the Pennsylvania Contractor and Subcontractor Payment Act. This statute, which is designed to ensure prompt payment on private projects in Pennsylvania, contains a number of provisions that are in need of update. At least one of the proposed changes will have a direct impact on the surety industry.

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