All contracts let by the joint commission shall provide for payments as the work advances, but the total payments to a contractor at any time before the final completion and acceptance of the work contracted for shall not exceed ninety per cent of the cost of the work done under any contract.
N.J. Stat. Ann. § 32:11-7
Restrictions on payments for work
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.