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
High-rise Construction | Jun 23, 2015
The world's best new skyscrapers for 2015
One World Trade Center and Abu Dhabi's Burj Mohammed Bin Rashid Tower are among the four towers named Best Tall Buildings by the Council on Tall Buildings and Urban Habitat.
BIM and Information Technology | Jun 21, 2015
11 tips for mastering 3D printing in the AEC world
Early adopters provide first-hand advice on the trials and tribulations of marrying 3D printing with the science of building technology.
Building Materials | Jun 12, 2015
Construction materials prices up in May, down year-over-year
Prices for inputs to construction industries rose by 1.1% in May—the largest month-over-month increase in more than two years.
Office Buildings | Jun 12, 2015
Houston's energy sector keeps office construction humming
Colliers International projects continued expansion this year in its quarterly report on national office market.
Smart Buildings | Jun 11, 2015
Google launches company to improve city living
The search engine giant is yet again diversifying its products. Google has co-created a startup, called Sidewalk Labs, that will focus on “developing innovative technologies to improve cities.”
Contractors | Jun 8, 2015
ABC: 49 states report decline in construction unemployment rate
Five Plain States reported the lowest unemployment rates for construction workers in April.
Contractors | Jun 5, 2015
FMI's quarterly survey finds contractors mostly optimistic about their growth
The overall economy, as well as the economy in which they do business, might be down, but contractor panelists who provided these insights still see nonresidential construction on the upswing, according to FMI’s latest report.
Contractors | Jun 2, 2015
Weather to blame for decline in Construction Backlog Indicator
Following an intense winter season, the Associated Builders and Contractors' Construction Backlog Indicator (CBI) revealed a 3.2% decline during the first quarter of 2015.
Contractors | Jun 1, 2015
Nonresidential construction spending surges in April
Nonresidential construction is up by a solid 8.8% over the past year, consistent with ABC's forecast of high single-digit growth.
Multifamily Housing | Jun 1, 2015
Sacramento moves forward on multifamily project with new modular supplier
Guerdon Modular Buildings will provide modules for 118 apartments.