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Can you file a lien on retainage in Texas?

2022 CHANGES Under 53.052(d), a lien for retainage must be filed no later than the 15th day of the 3rd month after the month the original contract was completed, terminated, or abandoned.

What is a B bidding?

A+B bidding is a method that rewards a contractor for completing a project as quickly as possible. By providing a cost for each working day, the contract combines the cost to perform the work (A component) with the cost of the impact to the public (B component) to provide lowest cost to the public.

What is a cost proposal in construction?

The contractor estimates how much labor and materials will cost and agrees to complete the job for this price regardless of the actual cost. With this type of proposal, you know exactly what the total cost of the project will be before any work begins.

Why is retainage outdated?

Bottom Line. Retainage is a flawed and potentially outdated practice. They put undue pressure on construction businesses, and often, construction businesses leverage retainage into discounts from their sub-tiered comrades. Retention bonds are an imperfect solution for the retainage problem.

How long is an architect liable for a building in Texas?

They seek to terminate a designers or contractors liability after a certain number of years have passed. In Texas, that certain number is 10 years, measured from the date of substantial completion.

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