NY A00358

Prohibits public owners and contractors from retaining payment for materials that have been delivered, accepted, and are covered by a manufacturer's warranty or graded to meet industry standards.

Requires public owners to pay contractors in full upon requisition for all delivered and accepted materials, rather than limiting payment to only critical supply and specially fabricated materials.

Requires contractors to pay materialmen in full upon receiving payment from the public owner for delivered and accepted materials covered by manufacturer's warranty or meeting industry standards, with no retention allowed except for materialmen who also install products they deliver.

Eliminates "pay-when-paid" clauses in subcontracts that make materialmen's payment contingent on the owner paying the contractor, if the contractor fails to submit a final payment requisition within 90 days of substantial completion.

Applies to all materials delivered and accepted on or after the bill's effective date, which is 30 days after enactment.