Laurie Hager | Snell & Wilmer Under HB 4006, which was effective on March 7, 2024, the Oregon legislature sought to improve retainage law in two ways. First, it allows general contractors and subcontractors to post a retainage surety bond to avoid having retainage deducted from progress payments on large commercial projects and public projects.… Continue reading Significant Changes to Retainage Law in Oregon Will Benefit Contractors and Require Review of Oregon Construction Contract Forms and Payment Procedures
Tag: Retainage Provision
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