Erase In Legal Alabama Bid Forms For Free

Section 41-16-50 of the Code of Alabama, Public Contracts, states that "All contracts of whatever nature for labor, services, work, or for the purchase or lease of materials, equipment, supplies or other personal property, involving seventy-five thousand ($75,000.00) or more, made by or on behalf of any state ...

In connection with any procurement subject to Article 5 of Chapter 4 of Title 41, Code of Alabama, an expenditure of $75,000 or more must be awarded by competitive sealed bid unless otherwise authorized by law.

Alabama (AL) Prompt Payment Laws State: Payment is due within 30 days after receipt of a proper payment request. Local: Payment is due within 35 days after approval of a payment request. If there is a dispute of the payment request, the entity must notify the general contractor within 15 days of receipt.

To build, effect, alter, repair, or demolish any improvements upon, connected with, or on, or beneath the surface of any real property; to excavate, clear, grade, fill, landscape any real property; to construct driveways and roadways; to furnish materials, including trees and shrubbery, for any of these purposes; or to ...

Any percentage of retainage on payments made by contractor to the subcontractor that exceeds the percentage of retainage on payments made by the owner to the contractor shall be subject to interest to be paid by the contractor to the subcontractor at the rate of one percent per month (12% per annum).

Prompt payment is a commercial discipline which requires businesses to: agree fair and reasonable payment terms with their suppliers. ensure suppliers' invoices are approved and paid within agreed terms. encourage adoption of the same practices throughout their supply chain.