Antonija Krizanac | Ahead of Schedule If you do not follow the Oregon legislature closely, you may have missed a new law, which went into effect January 1, 2020, that impacts the treatment of retainage on private and public construction projects over $500,000. For private and public construction contracts entered into on or after January 1,… Continue reading New Oregon Law Complicates Retainage on Construction Projects
Tag: Construction Retainage Requirements
Critical Amendments to Minnesota’s Prompt Payment and Retainage Laws
Bob Huber and Stephen Schemenauer | Stinson Leonard Street LLP | May 23, 2016 The Minnesota legislature recently passed a bill significantly amending Minnesota’s prompt payment statute. The revised statute specifically authorizes contractors and subcontractors of any tier to stop work if they are not paid within 10 days after an undisputed payment is due.… Continue reading Critical Amendments to Minnesota’s Prompt Payment and Retainage Laws
Withholding Less Retainage ≠ Release of Retainage; No Prompt Pay Act Violation
Stan Martin | Commonsense Construction Law LLC | March 31, 2016 Sometimes a construction contract allows for the amount of retainage being withheld by the owner to reduce, once the project is more than half complete. For instance, retainage that starts at 10% may reduce, at the halfway mark, to 5% being withheld thereafter. A… Continue reading Withholding Less Retainage ≠ Release of Retainage; No Prompt Pay Act Violation
Construction Retainage Requirements Under Idaho Law
Rick L. Stacey and Chad Nicholson – June 23, 2014 Virtually everyone involved in the construction industry is familiar with the term “retainage.” However, very few folks within this industry are aware that there are certain rules governing retainage that are dictated by Idaho law. On most construction projects general contractors, subcontractors, and suppliers are… Continue reading Construction Retainage Requirements Under Idaho Law