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Construction Contracts Escrow Accounts

Snell & Wilmer

Significant Changes to Retainage Law in Oregon Will Benefit Contractors and Require Review of Oregon Construction Contract Forms...

Snell & Wilmer on

Under HB 4006, which was effective on March 7, 2024, the Oregon legislature sought to improve retainage law in two ways. First, it allows general contractors and subcontractors to post a retainage surety bond to avoid having...more

Woodruff Sawyer

A Win for Contractors in Oregon: New Law Repeals Retainage Escrow Requirements

Woodruff Sawyer on

Oregon contractors and subcontractors now may receive the full amount of their progress payments by posting a specified retainage surety bond with the owner and lender. On March 7, Gov. Tina Kotek signed HB 4006, an...more

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