We have not worked for a particular contractor for 2 years, the contracted time to have retainage released (their contract that we signed), so we routinely sent a letter asking for the return of our retainage. The contractor now denies he withheld any retainage from us and has conveniently manufactured a $5,500 "advance" payment for a job that he says we owe him. We never invoice for any work that is not completed. And I find it highly interesting that this "advance payment" record has no check number on it like all his other payments to us. He is now demanding $5,500 from us after zero contact for two years. I would have noticed if we were paid an extra $5,500 unattached to an invoice. It always took an act of God just to get a check from him for jobs we HAD completed....Read More
I’m being forced to pay project manager under the table for work received and when I finally confronted him I stopped receiving work and been waiting on final payment Homevestors franchisee ...Read More
Is the owner or the contractor responsible to absorb the increased cost of lumber, since the price of lumber have skyrocketed because of the pandemic?
The project started before the increase in the pricing.
The project is in Louisiana...Read More
Two questions regarding retainage:
1. I understand that in Louisiana the owner is required to put retainage in an interest bearing escrow account. How do I, as the GC make claim to the interest?
2. Is retainage also passed on to material suppliers or only subcontractors?
...Read More
We are usually finished out part of the job before the entire project is over. How do I know when the project is finished and my lien deadline starts if the owner doesn't tell me? Also how long can they hold my retainage and is there a deadline to file a lien for retainage? ...Read More