Has anyone had experience with the new Retainage Law (756-C) as it pertains to bonded projects? We currently have a private bonded project that the owner is NOT holding retainage on our contract. We are not requiring our subcontractors to hold a bond. Are we then allowed to hold retainage on the subcontractors, or is that prohibited under the new law?
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Charlene Rhodes
Director of Administration
Kinley Contractors, LLC
Allegany NY
(716) 372-4534
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