Retainage Restrictions still sought in AL, CO, IL, NE, and RI

February 4, 2009

Throughout 2008, most retainage legislation focused on trying to limit or completely prohibit the withholding of retainage after projects are 50% complete. Retainage legislation in Alabama, Colorado, Illinois, Nebraska and also Rhode Island was defeated this past year, thanks in part to the efforts of the Surety & Fidelity Association of America (SFAA) and AIA Surety.

The most significant retainage legislation that was enacted was California Senate Bill (SB) 593. SB 593 prohibits California


No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment