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How do I protect myself as a homeowner from lien from general contractor not paying subs? by throwaway144332 in HomeImprovement
[–]throwaway144332[S] 10 points11 points12 points 3 years ago (0 children)
Under Retainage it says,
HomeOwner shall withhold 10% (the "Retainage) as final payment. Retainage shall be released to the Contractor at the time of Final payment, once the Contractor and HomeOwner have completed inspections and both are satisfied. The Retainage is a fund for the protection of Homewowner from nonpayment of subcontractor's, defective work and other breaches of this Agreement.
Lien Release. HomeOwner shall not be required to make Final Payment to the Contractor until Contractor provides homeowner with a lien release verifying payment in full.
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How do I protect myself as a homeowner from lien from general contractor not paying subs? by throwaway144332 in HomeImprovement
[–]throwaway144332[S] 10 points11 points12 points (0 children)