I want to input on this topic with a horrible experience I had with retainages.
I subbed for this company in South Florida during 1994, the retainage was supposed to be capped at $5000.
It got to $5000 and they said Mastec wanted them to continue taking the retainage and the story became there was going to be always $5000.00 on hold that is after every 90 days the previous accrued retainage would be released. It never happened.
Then when they realized we were still making money, they came out with another way to fleece us. They said Mastec wanted us technicians to be low voltage certified and in view of the fact that the certifications was going to be a problem my prime negotiated to rent a low voltage license from a company for peanuts and then charge every crew member $30 a week on the field.
My retainage got close to 17 grand. I have so far received 11700 with a new story that the rest of the retainage is in litigation with Mastec. Almost a year now.
Thinking I had some cool cash in that retainage I decided to take a long vaccation to Africa my home and live on that retainage for a whole year to take care of family issues and other stuff. It was a big hassle to get part of that money. Cellphones went dead, home office not picking up calls, finally had to disguise on the bar to get the current phone numbers, only to be told that you can only receive something small whilst we are litigating. After almost $550.00 in international calls.
This is one terrible experience. I will fight back like a wounded dog when I get back to the states.
Watch out who takes your retainages. Next time if the retainage is more than 2% or 5000 forget it, not me.
Horrible Retainage Experience
Member #: 41233
Registered: 10/1/2005
Posted:
7
Name:
John
Company:
Altess
Occupation:
Splicer
Location:
LA
There are 0 replies to this message
