N.J. Admin. Code § 16:44-10.1

Current through Register Vol. 56, No. 12, June 17, 2024

Section 16:44-10.1 - Partial payments to contractors

(a) Partial payments and retainage will be made pursuant to N.J.S.A 27:7-34, except on Federally funded projects where retainage will not be held on amounts due for partial payment for subcontracted work.

(b) Contracts may also provide for partial payments to contractors for materials for the project that have not yet been incorporated into the work, provided the materials are of acceptable quality, are stored and protected in an acceptable manner and for which the contractor furnishes releases of liens. The amount of the partial payment may not exceed 85 percent of the bid price for the associated item.

Amended by R.1990 d.500, effective 10/15/1990.
See: 22 N.J.R. 2247(a), 22 N.J.R. 3238(a).
Partial payment not to exceed 85 percent of bid price.
Recodified from 16:44-7.2 by R.1994 d.198, effective 4/18/1994.
See: 25 N.J.R. 4727(a), 26 N.J.R. 1690(b).
Former text at 16:44-7.1, Definitions, repealed.
Recodified from N.J.A.C. 16:44-7.1 and amended by R.2010 d.122, effective 6/21/2010.
See: 41 N.J.R. 3387(a), 42 N.J.R. 1239(a).
Rewrote the section.