Wednesday, August 24, 2011

Prompt Payment Act

The Prompt Payment Act provides that if a governmental entity does not make timely payments under a contract with a vendor of goods or services, the vendor may suspend performance and recover interest accruing on any undisputed late payments. See TEX. GOV’T CODE ANN. §§ 2251.025, 2251.051 (West 2008).

SOURCE: Houston Court of Appeals - 01-10-00649-CV - 8/18/11

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