N.Y. Gen. Bus. Law § 757

§ 757. Void provisions. The following provisions of construction\ncontracts shall be void and unenforceable:\n 1. A provision, covenant, clause or understanding in, collateral to or\naffecting a construction contract, with the exception of a contract with\na material supplier, that makes the contract subject to the laws of\nanother state or that requires any litigation, arbitration or other\ndispute resolution proceeding arising from the contract to be conducted\nin another state.\n 2. A provision, covenant, clause or understanding in, collateral to or\naffecting a construction contract stating that a party to the contract\ncannot suspend performance under the contract if another party to the\ncontract fails to make prompt payments under the contract.\n 3. A provision, covenant, clause or understanding in, collateral to or\naffecting a construction contract stating that expedited arbitration as\nexpressly provided for and in the manner established by section seven\nhundred fifty-six-b of this article is unavailable to one or both\nparties.\n 4. A provision, covenant, clause or understanding in collateral to or\naffecting a construction contract establishing payment provisions which\ndiffer from those established in subdivision three of section seven\nhundred fifty-six-a and section seven hundred fifty-six-b as applicable.\n 5. A provision, covenant, clause or understanding in, collateral to or\naffecting a construction contract requiring retainage as expressly\nprovided for by section seven hundred fifty-six-c of this article in an\namount exceeding five percent of the contract sum.\n