Owner to Prime Contractor (Private): N/A
Prime Contractor to Subcontractor (Private): N/A
Interest/Penalties (Private): N/A
Owner to Prime Contractor (Public): Within 14 days of invoice; can be extended to 30 days after invoice by contract.
Prime Contractor to Subcontractor (Public): Within 7 days after receipt of payment from owner. r.
Interest/Penalties (Public): Interest at the rate set forth by statute will accrue after the 31st day following completion of work.
Pay-If-Paid Permissible: Yes.
Special Notes: Contractor must share interest payments received from owner proportionately with its subcontractors.
Disclaimer: This information was published on July 1, 2020. Please contact Josh Levy, Eric Meier or Samantha Schacht for modifications made by Iowa since that date. Visit our 50-State Construction Law Map for information on other states.