Within how many days must progress payments be made for public works projects after receiving the contractor's requisition for payment?

Progress payments for public works projects must be made within 30 days of receiving the contractor's requisition for payment. The requirement to pay the contractor within this timeframe is important to ensure that cash flow is maintained throughout the project and to support the contractor's ability to pay their subcontractors and suppliers promptly. Timely payments are essential for maintaining good relationships between the contractor and the project owner, and they help keep the project on schedule by enabling the contractor to cover the costs associated with ongoing work.

Understanding this timing helps reinforce the importance of adhering to contracts and complying with applicable laws regarding payment, which often stipulate specific timeframes to protect all parties involved in the project. In the context of public projects, these regulations ensure transparency and accountability, fostering a fair contractual environment.