Our Prime Contractor needs to pay their sub-contractor under an individual work order. The retainage for the Master Contract is established, but the Prime wants us to release the retainage for an individual work order under the Master Contract. Something we have never done as an organization. Can this be done? How is it done?
Good morning Jeff, this sounds like a tricky situation. Typically, if your contract does not state that you have to release partial retainage for specific work orders then I would definitely get legal advice. Normally, all retainage falls under the prime contract. Please reach out to our legal help here: Legal Help
Please let me know if I can help any further. Thank you