# Pay-if-paid clause

A term used when buying glass and glazing.

A subcontract term making the [general contractor](https://searchspheresource.com/glossary/general-contractor)'s own payment a condition of yours.

With half this trade's revenue arriving through another contractor's contract, this one clause decides whether a receivable is owed at all or only once somebody upstream is paid. Virginia voids it unless the owner is insolvent or in bankruptcy, and sets the clock at the earlier of sixty days from invoice or seven days after the general contractor is paid, with written notice of any withholding inside fifty days. That statute expressly does not reach retainage, which is the cleanest proof that the two are separate mechanisms and compound where the clause is enforceable.

Part of: Buying a Glass and Glazing Business (https://searchspheresource.com/guides/buying-a-glass-and-glazing-business)

Source: https://searchspheresource.com/guides/buying-a-glass-and-glazing-business/terms/pay-if-paid-clause
Not dated: The same editorial definitions as the glossary, inside a trade.

Site index for machines: https://searchspheresource.com/llms.txt