Texas ‘Retainage’ vs. ‘Reserved Funds’: What’s the Difference & Why it Matters
Levelset
AUGUST 25, 2022
Code §53.001 : “(11) ‘Retainage’ means an amount representing part of a contract payment that is not required to be paid to the claimant within the month following the month in which labor is performed, material furnished, or specially fabricated material; is delivered.” Deadline to file a lien on unpaid retainage.
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