Drew Gentsch Authors Article on Retainage and the Potential Defense to the Surety for Early Release of Retainage
Attorney Drew Gentsch authored Retainage and the Potential Defense to the Surety for Early Release of Retainage in the American Bar Association Tort Trial and Insurance Practice Section TortSource Summer 2022 edition.
Retainage on a construction project can be governed by arcane rules and the common law and is dependent upon the jurisdiction of the project. A failure to properly understand payment of retainage can be detrimental to a claim under the surety bond should the owner of the project be seen as having released the surety’s collateral early, whereas a basic understanding of the role of retainage may protect the parties to a construction project from harsh and costly consequences arising from the early payment of retainage.
For more information
Contact Drew Gentsch at 515-288-6041 or by email. The full article can be found on the ABA-TIPS website.