§ 756-b. Remedies. 1. (a) If any interim or final payment to a\ncontractor is delayed beyond the due date established in paragraph (a)\nof subdivision three of section seven hundred fifty-six-a of this\narticle, the owner shall pay the contractor interest beginning on the\nnext day at the rate of one percent per month or fraction of a month on\nthe unpaid balance, or at a higher rate consistent with the construction\ncontract.\n (b) Notwithstanding any contrary agreement, if any interim or final\npayment to a subcontractor is delayed beyond the due date established in\nparagraph (b) of subdivision three of section seven hundred fifty-six-a\nof this article the contractor or subcontractor shall pay its\nsubcontractor interest, beginning on the next day, at the rate of one\npercent a month or fraction of a month on the unpaid balance, or at a\nhigher rate consistent with the construction contract.\n 2. (a) (i) If an owner fails to approve or disapprove an invoice\nwithin the time limits established in subparagraph (i) of paragraph (a)\nof subdivision two of section seven hundred fifty-six-a of this article,\nor to pay the contractor the undisputed invoice amount within the time\nlimits provided by paragraph (a) of subdivision three of section seven\nhundred fifty-six-a of this article, the contractor may suspend\ncontractually required performance, only after providing the owner\nwritten notice and an opportunity to cure consistent with subparagraph\n(ii) of this paragraph.\n (ii) A contractor intending to suspend performance on the construction\ncontract for failure of the owner to make timely payments or approvals\nwithin the time limits provided by this article must provide the owner\nwritten notice at least ten calendar days before the contractor's\nintended suspension. Such notice shall:\n (A) inform the owner that payment for undisputed invoice amounts have\nnot been received; and\n (B) state the intent of the contractor to suspend performance for\nnon-payment.\nIf after the tenth calendar day following written notice the owner has\nnot cured the deficiency, the contractor may suspend performance.\n (iii) A contractor shall not be deemed in breach of the construction\ncontract for suspending performance pursuant to this section.\n (b)(i) A subcontractor may suspend contractually required performance\nif any or all of the occurrences outlined in clauses (A), (B) and (C) of\nthis subparagraph occur and only after providing written notice and an\nopportunity to cure consistent with subparagraph (ii) of this paragraph:\n (A) If an owner fails to make timely payments for undisputed invoices\nwithin the time limits established by subdivision three of section seven\nhundred fifty-six-a of this article for the subcontractor's work and the\ncontractor also fails to pay the subcontractor for the approved work;\n (B) If an owner pays the contractor within the time limits established\nby subdivision three of section seven hundred fifty-six-a of this\narticle for undisputed invoices for work performed by the subcontractor\nbut the contractor fails to make payment to the subcontractor within the\ntime frames established by this article for the subcontractor's work;\n (C) If an owner fails to approve or disapprove a portion of\ncontractor's invoice for work performed by the subcontractor within the\ntime limits established in paragraph (a) of subdivision two of section\nseven hundred fifty-six-a of this article;\n (D) If a contractor or subcontractor fails to approve or disapprove a\nsubcontractor's invoice within the time limits established in paragraph\n(b) of subdivision three of section seven hundred fifty-six-a of this\narticle; or\n (E) If an owner fails to approve portions of the contractors' billing\nfor work performed by the subcontractor within the time limits\nestablished by this article and the reasons for such failure are not the\nfault of or directly related to the subcontractor's work.\n (ii) A subcontractor i
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