West Virginia Retainage Requirements
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Retainage Limit
Not Regulated by State Law
Pay Period
Not Regulated by State Law
There's No Process to Recover
N/A
Not Held In Escrow
In West Virginia, contractors and owners do not need to hold retainage funds in a separate escrow account.
Retainage Limit
Not Regulated by State Law.
Pay Period
Not regulated by State Law.
There's No Process to Recover
Not specified
Retainage serves two general purposes: (1) To provide an incentive to the contractor or subcontractor to complete the project; and (2) To give the owner some protection against problems like liens, contractual defaults, delays, and more. In most states, laws exist to regulate how the parties use the retainage concept, mostly protecting some parties against abuse of the tool from others. The following are resources, legal information, and frequently asked questions about West Virginia’s retainage requirements. The West Virginia retainage statutes are reproduced below on this page.
