Associated Builders and Contractors Lobbies Florida Legislature to Reduce Retainage and Increase Continuing Contracts Threshold

On January 22, members of the Associated Builders and Contractors (ABC) Florida Gulf Coast Chapter will urge the Florida Legislature to tweak current laws governing retainage and continuing contracts to better reflect nationwide economic, legislative and industry trends.  Retainage is money withheld from a contractor until a project is completed. Currently, in Florida, the amount allowed is 10 percent of …