2005-289 - Laserfiche WebLink

Home Browse Search

(e) All items that require correction under the contract and that are identified after the preparation and delivery of the list remain the obligation of the contractor as defined by the contract. (f) Warranty items may not affect the final payment of retainage as provided in this section or as provided in the contract between the contractor and its subcontractors and suppliers . (g) Retainage may not be held by a local governmental entity or a contractor to secure payment of insurance premiums under a consolidated insurance program or series of insurance policies issued to a local governmental entity or a contractor for a project or group of projects , and the final payment of retainage as provided in this section may not be delayed pending a final audit by the local governmental entity's or contractor's insurance provider. ( h ) If a local governmental entity fails to comply with its responsibilities to develop the list required under paragraph (a) or paragraph ( b) , as defined in the contract, within the time limitations provided in paragraph (a) , the contractor may submit a payment request for all remaining retainage withheld by the local governmental entity pursuant to this section . The local governmental entity need not pay or process any payment request for retainage if the contractor has , in whole or in part, failed to cooperate with the local governmental entity in the development of the list or failed to perform its contractual responsibilities , if any, with regard to the development of the list or if paragraph (8) (f) applies . (8) (a) With regard to any contract for construction services , a local governmental entity may withhold from each progress payment made to the contractor an amount not exceeding 10 percent of the payment as retainage until 50- percent completion of such services . ( b) After 50- percent completion of the construction services purchased pursuant to the contract, the local governmental entity must reduce to 5 percent the amount of retainage withheld from each subsequent progress payment made to the contractor. For purposes of this subsection , the term "50-percent completion" has the meaning set forth in the contract between the local governmental entity and the contractor or, if not defined in the contract, the point at which the local governmental entity has expended 50 percent of the total cost of the construction services purchased as identified in the contract together with all costs associated with existing change orders and other additions or modifications to the construction services provided for in the contract. However, notwithstanding this subsection , a municipality having a population of 25, 000 or fewer, or a county having a population of 100 , 000 or fewer, may withhold retainage in an amount not exceeding 10 percent of each progress payment made to the contractor until final completion and acceptance of the project by the local governmental entity . (c) After 50-percent completion of the construction services purchased pursuant to the contract, the contractor may elect to withhold retainage from payments to its subcontractors at a rate higher than 5 percent. The specific amount to be withheld must be determined on a case-by-case basis and must be 6 � �