What Is The Colorado Retainage Law For Private Construction Contracts?
Posted April 04, 2023 in Uncategorized
RETAINAGE LAWS HAVE CHANGED IN COLORADO. IF YOU ARE INVOLVED IN NEGOTIATING A NEW CONSTRUCTION PROJECT, YOU NEED TO REVIEW THE STATUTE BELOW AND UPDATE YOUR CONTRACTS ACCORDINGLY. C.R.S. 38-46-103. PRIVATE CONSTRUCTION CONTRACTS – RETAINAGE – CONDITIONS PRECEDENT. (1) A property owner, contractor, or subcontractor shall not withhold as retainage more than five percent of the price of […]
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