Comments on: Retainage issue has industry divided /news/2011/04/06/retainage-issue-has-industry-divided/ Building and Construction News in Portland, Oregon and the Pacific Northwest Thu, 28 Apr 2011 17:41:06 +0000 hourly 1 https://wordpress.org/?v=6.6.6 By: DarrellR /news/2011/04/06/retainage-issue-has-industry-divided/#comment-59283 Thu, 28 Apr 2011 17:41:06 +0000 /?p=70097#comment-59283 If the public agencies would release the retainage when the project is done, and not hold onto it for the warranty period, then a lot of these problems would be solved. Public agencies concerned about getting warranty work done could require GC’s to bond for that potential work. Then retainage could be released soon after completion notices are filed.

Also at issue is subs having to bid work at lower than 5% profit margin. Subs take a beating, because in many cases their suppliers don’t accept the with-holding of retainage.

I think the insurance commission should take a look at a way to provide low-cost insurance for commercial subs not working in the two higher-claim areas: building envelope & residential.

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