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Does Tennessee have statutes on retianage? If so, how much? When does it get releases?

TennesseeRetainage

We are a third party funds monitoring that may have a construction loan in Tennessee

1 reply

Oct 19, 2017
Yes, Tennessee does have statutes pertaining to retainage. Applicable rules can be found in TENN. CODE ANN. §§ 4-15-102, 12-4-108, 66-34-103, 66-34-104. But, long story short, retainage must be released to the original contractor within 90 days from substantial completion. Funds withheld by the original contractor must be released to subcontractors within 10 days of the date on which the funds withheld from the original contractor are released to it.
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