Sec. 15.72 MN Statutes
Retainage. (a) A public contracting agency may reserve as retainage from any progress payment on a public contract for a public improvement an amount not to exceed five percent of the …
Sec. 15.73 MN Statutes
In that event the public agency shall reduce the retainage in an amount equal to the value of the bonds and securities and pay the amount of the reduction to the contractor. Interest on the …
If there is a dispute about the work under a subcontract, the contractor must pay out retainage to any subcontractor whose work is not involved in the dispute, and must provide a written …
HF 1234 Introduction - 94th Legislature (2025 - 2026)
Mar 13, 2025 · owner or owner's agent may reduce the amount of retainage and may eliminate retainage on any monthly contract payment if, in the owner's opinion, the work is progressing
MINNESOTA STATUTES 2015 15.72 15.72 PROGRESS PAYMENTS ON PUBLIC CONTRACTS; RETAINAGE. onthly payments. Unless the terms of the contract provide …
Sec. 15.71 MN Statutes
Retainage. "Retainage" means the difference between the amount earned by the contractor on a public contract and the amount paid on the contract by the public contracting agency.
Ch. 15 MN Statutes
2025 Minnesota StatutesCHAPTER 15. STATE AGENCIES IN GENERAL
(b) The public contracting agency must release all retainage no later than 60 days after substantial completion, subject to the terms of this subdivision. If the public contracting agency …
(b) Retainage on a building and construction contract may not exceed five percent. An owner or owner's agent may reduce the amount of retainage and may eliminate retainage on any …
Ch. 337 MN Statutes
If there is a dispute about the work under a subcontract, the contractor must pay out retainage to any subcontractor whose work is not involved in the dispute, and must provide a written …