Wyoming Retainage Requirements<br />
- Private Jobs
- Public Jobs
- Top Links
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 Wyoming, contractors and owners do not need to hold retainage funds in a separate escrow account.
5 Percent
Retainage cannot exceed 5%.
Pay Period
Retainage must be released upon completion and acceptance of the project. Public entity may release early upon request of contractor.
There is a Process to Recover
Yes, written approval required from surety.
Optional
In Wyoming, if requested by the general contractor, the public entity shall hold the withheld payments in an interest bearing account.
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 Wyoming’s retainage requirements. The Wyoming retainage statutes are reproduced below on this page.
