You write well but have no idea about how the business works. Contractors need to keep retainage because there are so many losers, drunks, drug addicts, hacks and thiefs in this business. They prebill, pencil whip, break stuff, bill for work not done, and do a lot more than that. I usually takes time to find out.
It is true most MSO do not hold retainage but they do hold the final payment, until long after the job is done because they have the same problems with some of the primes that primes have with thier subs. That is why many primes will only pay subs after they get paid the final amount.
I try to be fair but I never made any interest on retainage nor did I get paid for any. It is not a bad idea though. I will consider it in the future.
Re: Retainage???
Member #: 16569
Registered: 1996-2001
Posted:
11
Name:
Born Again
Company:
Sole proprietor
Occupation:
Fiber splicer
Location:
domestic usa
Personal:
There are 3 replies to this message
