Maine Revised Statutes Title 10 Sec. 1117 – Prepayment or advance payment
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Terms Used In Maine Revised Statutes Title 10 Sec. 1117
- Contractor: means a person or entity that contracts with an owner to perform work on real property. See Maine Revised Statutes Title 10 Sec. 1111
- Owner: includes successors in interest of the owner and agents of the owner acting within their authority. See Maine Revised Statutes Title 10 Sec. 1111
- Subcontractor: means any person or entity that has contracted to perform work for or provide services to a contractor or another subcontractor in connection with a construction contract. See Maine Revised Statutes Title 10 Sec. 1111
This chapter in no way may be construed to prohibit an owner, contractor or subcontractor from making advance payments, progress payments or from prepaying if agreements or other circumstances make those payments appropriate. All such payments must be made promptly and are subject to the interest, penalty and other provisions of this chapter. [PL 1993, c. 461, §1 (NEW).]
SECTION HISTORY
PL 1993, c. 461, §1 (NEW).