Manhattan Retainage Law Attorney

After a contract has been entered into for a construction project, the lender (bank or owner) will periodically make progress payments to contractors throughout the various stages of completion. As the project continues to move forward, the owner, in many cases, is contractually entitled to hold 10 percent of every payment made as part of the retainage. Disputes often arise surrounding the release of retainage. These funds serve as an incentive for contractors to finish the project thoroughly and correctly and pay their subcontractors. When substantial completion occurs, part or all of the retainage is released to the contractor, based upon the terms of the contract.

Unfortunately, disputes often arise if the owner is not happy with the work or if the contractor is not paying the subcontractors. As a result, the owner may not want to release the retainage. If an owner starts getting phone calls from subcontractors stating that they haven't been paid and the prospect of liens enters the picture, the owner has another reason not to pay the contractor.

On the flip side, the retainage may be large and an owner may try to get away with paying the original contractor a smaller final payment by holding onto the retainage and calling in another contractor finish the work, for less than the remaining retainage. Sometimes the owner may even try to cut deals directly with subcontractors. From both the owner and the contractor's point of view, however, it's important to complete the project on time, without defects, without going over the budget and without any liens.

When these complex retainage disputes arise, it's critical to partner with an experienced lawyer to resolve the disputes and arrive at an ideal outcome.

Queens Construction Retainage Dispute Attorney

For more than two decades, we at the New York and New Jersey Law Offices of Michael P. Berkley, P.C., have been working with retainage issues and are ready to represent owners or contractors in any retainage-related dispute. We're ready to bring our comprehensive experience of contracts to scrutinize the documentation and reach out to any necessary team of experts to investigate the construction work performed to help clients arrive at an ideal outcome to their situation.

To discuss any aspect of your retainage issue with our Manhattan retainage law attorney in a free initial consultation call 888-512-5875 or e-mail us.