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The Pay If Paid market is a subset of Construction Law that deals with the payment of subcontractors in the event that the general contractor does not receive payment from the owner. It is a contractual agreement between the general contractor and the subcontractor that stipulates that the subcontractor will not be paid until the general contractor has received payment from the owner. This agreement is often used to protect the general contractor from financial risk in the event that the owner does not pay.
The Pay If Paid market is an important part of the construction industry, as it helps to ensure that subcontractors are paid for their work. It also helps to protect the general contractor from financial risk, as they are not responsible for paying the subcontractor if the owner does not pay.
Some companies in the Pay If Paid market include Surety Bonding Company, Construction Payment Solutions, and Construction Payment Solutions. Show Less Read more
