Wyoming Prompt Payment Overview
Wyoming does not have statute that explicitly addresses prompt payment for private projects, but it does address prompt payment for public projects.
Wyoming Prompt Payment for Public Projects FAQs
Wyoming’s prompt payment statutes set forth specific timeframes for when general contractors, subcontractors, suppliers, and others involved with a public construction project must be paid. This page provides an overview of these regulations and addresses frequently asked questions related to the Wyoming prompt payment laws.
Prompt Payment Frequently Asked Questions
In order for the provisions of the Wisconsin prompt pay statutes to apply, the party requesting payment must be entitled to payment pursuant to the terms of the contract, and must submit a correct notice of the amount due.
No. Wyoming doesn’t allow miscellaneous amounts to be included on the face of a bond claim.
If interest applies it begins to accrue immediately upon the failure to make timely payment, with no other specific notice required. Note, however, that interest does not accrue if the late payment is subject to a good faith dispute.
Wyoming allows payment to be withheld pursuant to a good faith dispute over the payment at issue.
Wyoming Prompt Payment Statutes
Getting informed about prompt payment laws is important. An examination of Wyoming’s prompt payment laws, the rules and regulations related to payment timing, is important to know your rights and responsibilities as a party on a construction project. Wyoming’s specific laws can be found in: Wyo. Stat. §§ 16-6-601-16-6-602, and are reproduced below.
Prompt Payment Statute on Private Projects
Wyoming law does not address prompt payment for private projects.
Prompt Payment Statute on Public Projects
a) As used in this article:
(i) “Agency” means any department, agency or other instrumentality of the state or of a political subdivision of the state;
(ii) “Goods” means all personal property purchased, procured or contracted for by an agency, including leases of real property or other arrangements for the use of space;
(iii) “Services” means all services purchased, procured or contracted for by an agency, including construction services.
Except as provided by contract, any agency which purchases or procures goods and services from a nongovernmental entity shall pay the amount due within forty-five (45) days after receipt of a correct notice of amount due for the goods or services provided or shall pay interest from the forty-fifth day at the rate of one and one-half percent (1 1/2%) per month on the unpaid balance until the account is paid in full, unless a good faith dispute exists as to the agency’s obligation to pay all or a portion of the account.