What does this mean Project Retainage Percentage

2 months ago

Im a contractor tryinh to lien a property where he has not paid the full balance.

Senior Legal Associate Levelset
180 reviews

Generally, the term “Project Retainage Percentage” will refer to the percentage of the contract price that’s withheld from progress payments as “retainage” (also called “withholding” or “holdback”) to be paid at a later date. But, not all jobs will have retainage. So, if your customer isn’t withholding some amount of payment until completion, then that job would generally not be subject to retainage.

For more information on filing a Colorado mechanics lien, these resources should help:

– How to File A Colorado Mechanics Lien – Step By Step Guide To Get You Paid
– Colorado Mechanics Lien Guide and FAQs

Disclaimer: The information presented here is not legal advice and should not be construed as such. Rather, this content is provided for informational purposes. Do not act on this information as if it is advice. Further, this post does not create any attorney-client relationship. If you do need legal advice, seek the help of a local attorney.
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