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Re: 10% retianage

I have had the same happen to me over the years. But it is necessary to holdback money for when tech's screw up and don't want to fix their mistakes. A general rule of thumb should be somewhere between 30 days to 6 months. I make it 60 days from the date of the last invoice check. And usually because my QC people are on top of the QC, we will send out holdback checks even sooner. I also put retainage money in a seperate account as it isn't my money. This allows me better tracking and seperates it from my operating account. Any company that doesn't put down in writing before you start what the holdback policy is, beware.
Followup with the company and I hope you have good records. Good luck!
This is CABL.com posting #126907. Tiny Link: cabl.co/mHa3
Posted in reply to: 10% retianage by Terryfic
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