Section Env-Wq 507.12 - Retainage on Construction Contracts(a) The recipient shall withhold 10% of all partial payments as retainage until 50% of the project is complete.(b) After the project is 50% complete, no additional retainage shall be withheld from any partial payments.(c) Upon substantial or final completion of the project, the recipient shall reduce the retainage to 2%. The final 2% retainage shall be held during the one-year warranty period and released only after the recipient has accepted the project.N.H. Code Admin. R. Env-Wq 507.12
Derived From Volume XXXV Number 49, Filed December 10, 2015, Proposed by #10984, Effective 12/1/2015, Expires12/1/2025.Amended by Number 2, Filed January 12, 2023, Proposed by #13511, Effective 12/20/2022, Expires 12/20/2032 (formerly Env-Wq 507.11).