7 Things Contractors Need to Know About Retainage
Fieldwire
AUGUST 14, 2023
The practice dates back to the 1840s, dreamed up as a measure to reduce the owner’s risk and ensure that the project is fully completed according to the job specifications. For example, in the American Institute of Architects (AIA) A401 — the standard contract between a contractor and subcontractor — the retainage amount is blank.
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