A reference manual published by the American Subcontractors Association, Retainage Law in the 50 States, is available for construction subcontractors to understand retainage laws across the U.S. Each state entry in the manual reviews critical factors in retainage law for private and public work, including the retainage rate permitted under law, retainage release milestones, and any options to provide alternative securities in lieu of retainage. The manual also contains a chart summarizing the major elements of retainage law for each state. Subcontractors and specialty trade contractors can learn more about negotiating reduced or zero retainage by participating in ASA’s April 9, 2013, webinar, “Negotiating Retainage.”
Related Stories
Building Team | Apr 4, 2017
Dispelling five myths about post-occupancy evaluations
Many assume that post-occupancy (POE) is a clearly-defined term and concept, but the meaning of POE in practice remains wildly inconsistent.
Structural Materials | Apr 3, 2017
Best of structural steel construction: 4WTC, Fulton Center, Pterodactyl win AISC IDEAS2 Awards
The annual awards program, sponsored by the American Institute of Steel Construction, honors the best in structural steel design and construction.
Reconstruction & Renovation | Mar 16, 2017
Pols are ready to spend $1T on rebuilding America’s infrastructure. But who will pick which projects benefit?
The accounting and consulting firm PwC offers the industrial sector a five-step approach to getting more involved in this process.
Contractors | Mar 15, 2017
Dan Ulbricht joins Skender Construction as Vice President
Ulbricht will be working with Skender’s executive leadership team to augment partnerships and expand new markets.
Contractors | Mar 9, 2017
5 reasons why Millennials are great for the construction industry
Millennials often are unfairly saddled with the dubious reputation for being entitled, disloyal, and self-centered, but it turns out that they are actually not that different from their older work colleagues, according to an FMI study.
Industry Research | Mar 7, 2017
These are the 10 most expensive cities in the world to build in
Paris, Frankfurt, and Macau are all on the list, but none of them are more expensive than the city in the number one spot.
Architects | Jan 4, 2017
The making of visible experts: A path for seller-doers in the AEC industry
Exceptional seller-doers have the ability to ask the right questions, and more importantly, listen.
Building Team | Jan 3, 2017
How does your firm’s hit rate stack up to the AEC competition?
If your firm is not converting at least a third of project proposals when competing for new work, it may be time to reassess your marketing tactics and processes.
Contractors | Dec 22, 2016
New commercial building energy code released
The update includes a new compliance path and significant technical changes affecting building envelope, and mechanical and lighting systems.
Contractors | Oct 13, 2016
Contractors’ financial performance improved in 2015
The Construction Financial Management Association’s latest survey found gains across the board, but notable variances by the size of the companies.
