Retainage Questions

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Retainage
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I'm looking to finish my active projects and close the company in September. We are in a good spot to get all AR paid off and have some earnings at the end. My concern is if I go through with it will the GC's hold our retainage check throughout the 1 year warranty we are obligated to provide at the end?...Read More
Anonymous Contractor
Waiting for answerAdd commentApr 21, 2021
IndianaRetainage
I'm GC who did NOT send a prelim notice for a project and now wondering how to collect on unpaid balances....Read More
Anonymous General Contractor
1 answerAdd commentApr 19, 2021
CaliforniaConstruction ContractLien WaiversMechanics LienPay ApplicationsPreliminary NoticeRetainage
I recently pulled a permit in a Texas city, as an electrical sub-contractor. Two days from finishing the work for the entire project. my company was fired because my supply house delivered some equipment missing two critical components. when notified the manufacturer explained that there had been a Covid-19 outbreak in Mexico where these components were currently being made and there was no date in the near future that manufacturing would continue. I explained the situation and was told that i would be let go so he could save his ass from having to pay 1500 a day for going over the deadline. now I'm out 12,000 for materials and labor and feel as if I was let go unfairly. What is my course of action and do I have a course of action. Something quick I'm drowning in debt and scraping by the skin on my teeth. I want to file a lien and sue their asses off!...Read More
Anonymous Contractor
1 answerAdd commentApr 18, 2021
TexasMechanics LienNotice of Intent to LienPay ApplicationsPreliminary NoticeRetainage
We worked on a school in Sanford, FL. We finished and billed for 95% of the job and was paid very slowly. The GC wanted us to use materials that was not approved by the architect and go over block work that someone else had messed up on. Without letting us know they brought in another company that was doing terrible work, using the non approved materials and making a mess of the work we had already completed. We have pictures of the work we did and up to 95% completion that was approved by the GC. We also have pictures of the other company using the non approved materials and doing work that was not up to the quality of work that our company had done on the buildings. We now want to get our retainage for the work that had been approved(up to 95%) completion. They were slow to pay at best and looking to cheat us out of the work that we had already completed. At this point we are worried they will try to keep the retainage that is owed to us. Should we bill them for the retainage or put a lien to be sure to get our retainage money?...Read More
Nancy Chaille
Waiting for answerAdd commentApr 16, 2021
FloridaRetainage
We are installing an elevator for $38,000. The contractor has asked for a payment schedule of $17,000 up front, $14,000 when elevator is delivered, $2000 at completion of site of install, and $5,000 at completion. This seems in violation of California’s 10% down. However, the contractor has excellent BBB rating, good reviews, and has a valid California license. What lien waivers should I obtain and at what point?...Read More
Anonymous Contractor
2 answersAdd commentDec 5, 2020
CaliforniaConstruction ContractLien WaiversMechanics LienPay ApplicationsRetainage
I'm a GC building on a custom 1M+ home. I've held back a partial payment to my concrete sub due to corrections that need to be completed. He has about 17k left unpaid on his contract and I'm concerned the corrections will cost more than that. He's alerted me that 2 subs of his (concrete supplier and rebar supplier) have not been paid and have let him know they intend to lien against the property. I've now paid both of his subs, but never received any prelim from either of them. How is this supposed to work? As the GC, aren't I supposed to receive a prelim from any sub working on the job? How do I protect myself in the future?...Read More
Sebastian Rein
1 answerAdd commentApr 9, 2021
CaliforniaMechanics LienPreliminary NoticeRetainage
We are a drywall subcontractor on a project in the Dallas Texas area. per our subcontract agreement we a have a 10% retainage held until substantial completion. We have completed our work since early January of this year. The general contractor is taking so much time to finish the project, the only item left for the General Contractor to finish is install the toilet partitions. We have some punch list item to do on the painting nothing major, but the GC wants to wait until the final item is installed for us to do the punch list. How long can we wait until we get our retainage? what if the GC and the owner keep going back and forth on issues that do not pertain to our scope of work, should we be panelized and our retainage held indefinitely? HELP!...Read More
Anonymous Contractor
1 answerAdd commentApr 9, 2021
TexasRetainage
I've been owed a retainer on a public library job since 2014 . I was told I get paid when they get paid . 4800 $ enough to sink my little company . Any advise will help .I was acting in good faith and clean hands . Any pointers on how to go about this?? Thank you a head of time. ...Read More
Anonymous Sub-Subcontractor
Waiting for answerAdd commentApr 1, 2021
OhioRetainage
If a 10% retainge was taken from my contract as 2nd tiered sub, and the Subcontractor was charged $93k from GC, is it fair that they want to charge me 66% of that fee because I had more employees onsite? How does a Sub calculate who owes what portion of the fees if both parties were working on that contract? ...Read More
Anonymous Contractor
1 answerAdd commentMar 18, 2021
MarylandRetainage
We are a GC doing a private job in Texas. Our contract terms with the Sub are "we pay when paid". Our contract outlines that once we receive owner payment, we then turn around and pay the subs. A sub of ours just filed a Notice of Intent to file a lien, but we are still waiting on final owner payment before we release the sub's retainage (also specified in the contract). Does our contract protect us or do Texas lien laws trump our contract terms?...Read More
Anonymous General Contractor
2 answersAdd commentFeb 23, 2021
TexasConstruction ContractNotice of Intent to LienRetainage
Can a homeowner legally withhold retention from the contractors profit and overhead line item? Also, can retention be withheld from the cost of temporary facilities and rentals?...Read More
Anonymous Contractor
Waiting for answerAdd commentFeb 11, 2021
CaliforniaRetainage
We are a GC and have offices in Oregon and Washington among a couple other states - I need to know the specifics when it comes to interest that is due to us on contracts over 500k - specifically in Washington and in Oregon. I have read the laws - but i dont feel like it is clear and most specifically how it is calculated and then invoiced....Read More
Anonymous Contractor
3 answersAdd commentFeb 1, 2021
WashingtonRetainage
I am a subcontractor that has finished my portion of the contract on a larger project. It has been 3.5 months since i completed my portion of work. Whenever i ask about my retention money, they continue to tell me they are waiting on final inspections. They offer no clarity on a time when they will get their inspections. The work was done in the state of kentucky. ...Read More
Anonymous Contractor
1 answerAdd commentJan 30, 2021
KentuckyRetainage
I'm a contractor located in Northern California. I just filed a NOI after having a payment dispute with a customer who has now taken steps to go after my surety bond and filed a complaint against my license. I have attempted to resolve this matter with the homeowner with no luck. I have paid out of pocket for materials as well as subcontractors and then get kicked off property with no payment. At this point, I have notified the bond company not to pay out. What's next? ...Read More
Anonymous General Contractor
2 answersAdd commentFeb 3, 2021
CaliforniaConstruction ContractMechanics LienRetainage