Nevada Revised Statutes 338.570 – Contractor to provide notice concerning progress payments and retainage payments to certain subcontractors and suppliers
Within 5 working days after a contractor receives a written request from a subcontractor or supplier of his or her subcontractor or supplier with respect to a subcontract which has not been fully performed, the contractor shall notify the subcontractor or supplier of his or her subcontractor or supplier in writing of the following:
Terms Used In Nevada Revised Statutes 338.570
- Contractor: means :
(a) A person who is licensed pursuant to the provisions of chapter 624 of NRS. See Nevada Revised Statutes 338.010
- Subcontract: means a written contract entered into between:
(a) A contractor and a subcontractor or supplier; or
(b) A subcontractor and another subcontractor or supplier, for the provision of labor, materials, equipment or supplies for a construction project. See Nevada Revised Statutes 338.010
- Subcontractor: means a person who:
(a) Is licensed pursuant to the provisions of chapter 624 of NRS or performs such work that the person is not required to be licensed pursuant to chapter 624 of NRS; and
(b) Contracts with a contractor, another subcontractor or a supplier to provide labor, materials or services for a construction project. See Nevada Revised Statutes 338.010
- Supplier: means a person who provides materials, equipment or supplies for a construction project. See Nevada Revised Statutes 338.010
1. The date the contractor made a specified progress payment or retainage payment to his or her subcontractor or supplier;
2. Whether the contractor has paid the entire amount of a specified progress payment or retainage payment to his or her subcontractor or supplier; and
3. The amount withheld by the contractor from a specified progress payment or retainage payment to his or her subcontractor or supplier, if any.