New Florida Law Substantially Reduces Retainage Rate on Government Construction Projects
Jimerson Firm
OCTOBER 1, 2020
On September 18, 2020, Florida Governor Ron DeSantis signed House Bill 101, an act relating to public construction , into law. In most construction contracts, payments are made to contractors in installments as the project work progresses, usually on a monthly basis, with the payments generally referred to as progress payments.
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