Retainage is commonly used in construction to withhold funds until project completion. Unfortunately for some contractors, this means their payment for the project may get delayed for years until the project is completed....more
All banks operating in Minnesota must be aware of the recent decision in United Prairie Bank v. Molnau Trucking LLC. In that case, the Minnesota Supreme Court significantly reshaped the priority landscape between secured...more
Retainage is a critical tool for public project owners to ensure satisfactory contractor performance. The maximum retainage rate for public projects typically ranges from 5% to 10%, depending on the contract value. For large...more
As 2023 comes to a close, it is the perfect time to look back and review recent Oregon legislative changes that will impact the construction industry in the coming year. The 82nd Session of the Oregon Legislature...more
In Cell-Crete Corp. v. Fed. Ins. Co., a California court awarded a surety attorneys’ fees and costs that its principal incurred defending the surety against a claim on a public-works payment bond. This is good news for...more
This decision is a major victory for Ohio contractors and their sureties. The Fifth District Court of Appeals of Ohio issued a recent decision confirming that Ohio’s construction statute of repose, R.C. 2305.131, applies to...more
This summer, the Washington Supreme Court ended a long dispute within the construction industry and issued an opinion finding that a performance bond is, in essence, an insurance contract. The court made clear that a public...more