Okla. Stat. tit. 61, § 61-223
This is the official text of Okla. Stat. tit. 61, § 61-223, part of Oklahoma’s Stat. tit. 61, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 61,." Browse the sections below, each linked to its official government source.
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Construction contracts - Progress payments - Reduction
Official statutory text
A. On all construction contracts exceeding Twenty-five Thousand
Dollars ($25,000.00) in value an owner shall make progress payments
to the prime contractor for work performed and materials properly
stored, within thirty (30) calendar days after a proper invoice is
submitted to the owner or a representative designated by the owner.
B. An owner or entity designated by the owner, may not reduce a
proper invoice of a prime contractor without detailing and
forwarding to the prime contractor, within fourteen (14) calendar
days of receipt of the proper invoice, the reasons for reduction.
The reduction may not be more than an amount that is reasonable to
correct the work, as set forth in writing.
C. If a contracting entity has had their proper invoice reduced
by another entity all other affected entities having a construction
Oklahoma Statutes - Title 61. Public Buildings and Public Works Page 69
contract with the contracting entity shall be notified within seven
(7) calendar days. Except as affected by a prior reduction, a prime
contractor or subcontractor may not reduce the proper invoice of
another subcontractor, sub-subcontractor, or material supplier
without detailing and forwarding to the subcontractor, sub-
subcontractor, or material supplier, within seven (7) calendar days
of receipt of the proper invoice, the reasons for reduction. A
prime contractor, subcontractor, or sub-subcontractor may also
reduce a payment of a contracted party from a previous proper
invoice. Any such reductions may not be more than an amount that is
reasonable to correct the reasons for reduction, as set forth in
writing. Any prime contractor, subcontractor or sub-subcontractor
may be exempt from notification if the reduction is less than one
percent (1%) of its net proper invoice or is due to mathematical
errors.
Dollars ($25,000.00) in value an owner shall make progress payments
to the prime contractor for work performed and materials properly
stored, within thirty (30) calendar days after a proper invoice is
submitted to the owner or a representative designated by the owner.
B. An owner or entity designated by the owner, may not reduce a
proper invoice of a prime contractor without detailing and
forwarding to the prime contractor, within fourteen (14) calendar
days of receipt of the proper invoice, the reasons for reduction.
The reduction may not be more than an amount that is reasonable to
correct the work, as set forth in writing.
C. If a contracting entity has had their proper invoice reduced
by another entity all other affected entities having a construction
Oklahoma Statutes - Title 61. Public Buildings and Public Works Page 69
contract with the contracting entity shall be notified within seven
(7) calendar days. Except as affected by a prior reduction, a prime
contractor or subcontractor may not reduce the proper invoice of
another subcontractor, sub-subcontractor, or material supplier
without detailing and forwarding to the subcontractor, sub-
subcontractor, or material supplier, within seven (7) calendar days
of receipt of the proper invoice, the reasons for reduction. A
prime contractor, subcontractor, or sub-subcontractor may also
reduce a payment of a contracted party from a previous proper
invoice. Any such reductions may not be more than an amount that is
reasonable to correct the reasons for reduction, as set forth in
writing. Any prime contractor, subcontractor or sub-subcontractor
may be exempt from notification if the reduction is less than one
percent (1%) of its net proper invoice or is due to mathematical
errors.
Status: in_force · Read it on the official government site
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