D. Gary Christensen | Miller Nash Retainage from progress payments is commonplace for most Oregon construction contractors. Traditionally, there have been few laws governing retention; almost all of the “rules” were established in the parties’ construction contract. Beginning in 2000, however, all that changed. Now public and private contractors need to take a fresh look… Continue reading Retention on Progress Payments for Oregon Construction Projects is Now…Complicated
Tag: Retainage
Retainage – Pay Attention, Mistakes Can be Very Costly
D. Bryan Thomas | Bradley Legislation about retainage has become common place as many states have adopted different limitations, requirements, and schemes. A recent case in Tennessee is a good reminder that you must pay attention to all of the relevant state’s requirements. Failure to do so can be costly. In Snake Steel, Inc. v. Holladay… Continue reading Retainage – Pay Attention, Mistakes Can be Very Costly
Construction Contractors Must Understand Retainage In 2021
Ed Williams | Construction Executive Retainage has become a vital part of the contracting and construction process. If defined precisely, retainage is a practice of withholding a particular percentage of the payment until the project is delivered. However, the practice can turn to be a challenge for small contractors, as it is laid over a… Continue reading Construction Contractors Must Understand Retainage In 2021
Is It Time to Get Rid of Retainage?
David K. Taylor | Construction Executive Many debate the pros, cons and claims of retainage—when one party to a construction contract withholds a percentage (typically 5%-10%) from an otherwise approved contractor pay application, and which typically is not paid until a project is substantially complete. If an owner withholds retainage from a prime contractor, typically… Continue reading Is It Time to Get Rid of Retainage?
New Oregon Law Complicates Retainage on Construction Projects
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