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Snell & Wilmer

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

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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

Davis Wright Tremaine LLP

Escrow No More: A New Era for Oregon's Construction Retainage Law in 2024

On March 7, 2024, the Oregon legislature enacted a significant change to the state's law on retainage requirements for public and private construction projects. The new law introduces options for contractors to receive full...more

Miller Nash LLP

Oregon Retainage Law Has Changed—for the Better!

Miller Nash LLP on

Oregon law about retainage on public and private construction projects changed on March 7, 2024. Contractors now have a workable option to obtain full payment of progress payments, without subtraction of cash retainage....more

Bass, Berry & Sims PLC

Tennessee Supreme Court Clarifies Application of the Prompt Pay Act

Bass, Berry & Sims PLC on

On June 30, the Supreme Court of Tennessee issued an opinion interpreting the retainage provisions in Tennessee’s Prompt Pay Act (the Act). The opinion has significant implications for construction projects across Tennessee....more

Womble Bond Dickinson

Escrowed Payments May Leave Federal Subcontractors High and Dry

Womble Bond Dickinson on

Companies providing products or services as subcontractors to prime federal contractors often struggle with how best to ensure prompt and full payments from primes. Prime contractors, particularly small business concerns,...more

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