Most businesses know to be wary of credit applications or agreements which may include provisions for high rates of interest or other pro-creditor terms — indeed, well-run businesses know to use such forms themselves. What surprises many businesses is the fact that high rates of interest can be assessed in some cases, even if no…

The bane of the commercial subcontractor’s accounts receivable is the “pay when paid” clause — once an inventive addition to a few general contractors’ forms, now the norm in form subcontracts offered on major projects. The “pay when paid” clause provides that, notwithstanding any other contract provision, the general contractor need not make payment to…