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New Legislation Benefits Connecticut Contractors and Subs

New Legislation Benefits Connecticut Contractors and Subs

With new legislation popping up all over the map, it feels like construction payment laws are changing every other day. Considering the issues the industry has with payment, this is a good thing! States have been making progress toward a more transparent, efficient payment system. Recent revisions to the Connecticut Little Miller Act and retainage […]

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Reduced Retainage Is Not Released Retainage

construction financial manager review

Many states, like California, manage the amount of retainage withheld on public projects. In California, no more than 5% of the contract price may be withheld. Also, the normal practice is that after 50% of the project has been completed, no more retainage will be withheld. Therefore, public owners will calculate how much retainage needs […]

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