Appendix V Prompt Payment - Ohio

What Is Appendix V?

This is a legal form that was released by the Ohio Department of Transportation - a government authority operating within Ohio. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Appendix V Prompt Payment?A: Appendix V Prompt Payment is a set of regulations established by the state of Ohio to ensure timely payment to contractors, subcontractors, and suppliers on public construction projects.

Q: Who does Appendix V Prompt Payment apply to?A: Appendix V Prompt Payment applies to contractors, subcontractors, and suppliers who work on public construction projects in the state of Ohio.

Q: What is the purpose of Appendix V Prompt Payment?A: The purpose of Appendix V Prompt Payment is to ensure that contractors, subcontractors, and suppliers are paid in a timely manner for the work they perform on public construction projects.

Q: What are the requirements for prompt payment under Appendix V?A: Under Appendix V, public agencies are required to pay contractors within 30 days of receiving a proper invoice, and contractors are required to pay subcontractors and suppliers within 10 days of receiving payment from the public agency.

Q: What happens if a payment is not made on time?A: If a payment is not made on time, the contractor, subcontractor, or supplier may be entitled to interest on the unpaid amount, as well as reasonable attorney fees and other costs associated with collecting payment.

Q: How can disputes regarding payment be resolved under Appendix V?A: If there is a dispute regarding payment, the parties can pursue mediation, arbitration, or litigation to resolve the issue.

Q: Are there any exceptions to the prompt payment requirements under Appendix V?A: Yes, there are certain exceptions to the prompt payment requirements for circumstances such as disputed invoices, incomplete work, or other valid reasons for withholding payment.

Q: Does Appendix V Prompt Payment apply to private construction projects?A: No, Appendix V Prompt Payment only applies to public construction projects in the state of Ohio.