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What is Retainage in Construction?

Lets Build

Retainage percentages and negotiations. For example, a $50,000 contract with 5% retainage doesn’t mean you’re out $2,500 from the onset of your project; you’ll deduct the retainage from each milestone payment. So if that same contract gets paid over five payments, $500 would be held in retainage each time.

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The Bird Box Dilemma: When False Pay Apps and Lien Waivers Are Not Fraudulent Inducement

Best Practices Construction Law

As a construction litigation attorney, the “claim” is often about telling the story of a breach of contract, or failed expectations, or unforeseen delays, all through the testimony of individuals or the introduction of documents. certifications and/or lien waivers) to the prime contractors to obtain payment. Mass) (Dec.

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7 Things Contractors Need to Know About Retainage

Fieldwire

It’s fairly common, especially on commercial and public construction projects, and typically ranges from 5 - 10% of the total contract price. So on a $100,000 contract with 10% retainage, the contractor doesn’t have to fork over ten grand at the beginning. Retainage is up for negotiation Retainage is not set in stone.

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Get An Attorney To Read Your Construction Contract – Every Time

Construction Law Monitor

At the start of every construction project you sign a stack of papers that will dictate your success or failure on the project: the construction contract. The contract may be short and sweet, or it may be a mountain of paperwork that not only includes its own provisions but also cites provisions in other paperwork stacks.

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Commercial Construction Best Practices: Debunking Construction Change Order Myths

HardHatChat

After all, the subs aren’t under contract with the client, they’re under contract with the GC. Enter the general contractor, who – if skilled enough in negotiations – can resolve the situation to avoid a potentially adversarial client and subcontractor relationship. The payment dispute goes to court.

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Litigation Topics for Prime / Subcontractor Contracts

Construction Law Monitor

I had a speaking engagement today here in Kenner, Louisiana (a suburb of New Orleans) whereby I had the pleasure of speaking to a group of contractors and architects regarding construction contracts. The bulk of the discussion focused on the most contested provisions within construction contracts. Prime/Subcontractors Contracts.

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Georgia Construction, Bond & Lien Law Blog: Practical advice, even if you are outside of Georgia

Construction Marketing Ideas

The Cobb Law Group’s Georgia Construction, Bond and Lien Law Blo g provides practical information for contractors doing business in Georgia. The Cobb Law Group’s Georgia Construction, Bond & Lien Law Blog clearly states its focus in its title. Fix Your Customer Contracts! Negotiate/Review Your Contracts.

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