In this comprehensive episode, host Leon Mead breaks down the Nevada Prompt Payment Act, explaining its unique features, requirements, and implications for contractors in Nevada. The episode covers the act’s origins from the Venetian Resort case, payment timelines, change order provisions, and remedies available to contractors when payments are delayed.
About the Show:
The BLDRLaw Podcast: Inside Nevada’s Construction Law is your go-to resource for insights into the legal landscape of Nevada’s construction industry. Hosted by Leon Mead, a leading construction attorney, the podcast covers essential topics such as contract disputes, licensing, legislative updates, and best legal practices for contractors, developers, and construction professionals. Whether you’re a seasoned industry expert or just getting started, this podcast offers practical legal knowledge to help you navigate Nevada’s unique construction laws.
Key Timestamps:
00:01 – Show Introduction
00:06 – Overview of Nevada Prompt Payment Act
03:45 – Historical Background (Venetian Resort Case)
07:30 – How the Act Works & Payment Timelines
12:15 – Retention Rules and Withholding Funds
17:20 – Change Order Provisions
22:30 – Contract Termination Rights
27:45 – Liability and Legal Implications
32:15 – Disputes and Unresolved Issues
38:56 – Show Outro