Retainage in Construction: Security Measure for Owners, But What for Contractors?
Buildern
NOVEMBER 23, 2023
One such measure is the use of a retainage fee, which is a percentage of the contract amount that an owner withholds from a contractor until the completion of the project. Usually, substantial completion is when the project is ready for its intended use or occupancy, even though minor work items may still need to be completed.
Let's personalize your content