O.C.G.A.

O.C.G.A. § 13-11-7 (2019)

Interest on late payments

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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(a) Except as provided in Code Section 13-11-5, if a periodic or final payment to a contractor is delayed by more than 15 days or if a periodic or final payment to a subcontractor is delayed more than ten days after receipt of periodic or final payment by the contractor or subcontractor, the owner, contractor, or subcontractor, as the case may be, shall pay his or her contractor or subcontractor interest, beginning on the day following the due date, at the rate of 1 percent per month or a pro rata fraction thereof on the unpaid balance as may be due. However, no interest is due unless the person being charged interest has been notified of the provision of this Code section at the time the request for payment is made. Acceptance of progress payments or final payment shall release all claims for interest on said payments.

(b) Nothing in this chapter shall prohibit owners, contractors, and subcontractors from agreeing by contract to rates of interest, payment periods, and contract and subcontract terms different from those stipulated in this Code section, and in this event, these contractual provisions shall control. In case of a willful breach of the contract provisions as to the time of payment, the interest rate specified in this Code section shall apply.

History

(Code 1981, § 13-11-7, enacted by Ga. L. 1994, p. 1398, § 1.)

Notes of Decisions

Cited in 5 cases, 1984–2019 · leading case: City of Atlanta v. Hogan Constr. Grp., LLC, 801 S.E.2d 606 (Ga. Ct. App. 2017).

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City of Atlanta v. Hogan Constr. Grp., LLC, 801 S.E.2d 606 (Ga. Ct. App. 2017). · cites it 4× “OCGA § 13-11-7 (b). The Agreement includes a provision addressing when progress payments will be paid and a provision for the payment of interest based on the prime rate for failure to issue progress payments within 60 days of approval.”

W. Sur. Co. v. Dep't of Transp., 757 S.E.2d 272 (Ga. Ct. App. 2014). · cites it 2× “AndOCGA § 13-11-7 provides that “[acceptance of progress payments or final payment shall release all claims for interest on said payments.”

Fatt Katt Enter., Inc. v. Rigsby Constr., Inc. (11th Cir. 2019). · cites it 4× “§ 13-11-4(b) does not apply and Fatt Katt’s Prompt Pay Act claim is not be barred. The district court determined that O.C.”

W. Sur. Co. v. the State of Georgia Dep't of Transp. (Ga. Ct. App. 2014). · cites it 2× “And OCGA § 13-11-7 provides that “[a]cceptance of progress payments or final payment shall release all claims for interest on said payments.”

Stephens v. Kemp, 602 F. Supp. 960 (M.D. Ga. 1984). “13, §§ 13-11-7(2) & (6) (1975); Ariz. Rev.Stat.”

— 13-11-7(2) — 1 case

Stephens v. Kemp, 602 F. Supp. 960 (M.D. Ga. 1984). “13, §§ 13-11-7(2) & (6) (1975); Ariz. Rev.Stat.”

— 13-11-7(b) — 1 case

Fatt Katt Enter., Inc. v. Rigsby Constr., Inc. (11th Cir. 2019). “§ 13-11-4(b) does not apply and Fatt Katt’s Prompt Pay Act claim is not be barred. The district court determined that O.C.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.