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Reduced Retainage Is Not Released Retainage

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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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