Much of the construction practice at Larkin Hoffman involves the civil construction industry. Our interest in the current state of civil construction in the U.S. was piqued by our review of a recent study by the national accounting firm, CliftonLarsonAllen LLP (CLA). We thought the study and findings would be of interest to you, so
Construction Alert: Retainage Revolution Hits Minnesota
Parties to public and private construction contracts entered into after August 1, 2019 are subject to new statutory requirements and limitations regarding the withholding and release of retainage, that portion of earned contract funds withheld by the owner from the contractor pending completion of the project. It is important that owners, prime contractors, and subcontractors