No construction contract may provide for any retainage in an amount that exceeds five per cent of the estimated amount of a progress payment for the life of the construction project. All retainage shall be paid by the owner not later than thirty days after the issuance of a certificate of final completion by the owner or the owner's authorized representative or not later than thirty days after the equivalent written acceptance of the construction project work by the owner.
Conn. Gen. Stat. § 42-158k
Retainage limitation. Payment by owner. Time limits
(P.A. 99-153, S. 3; P.A. 03-167, S. 8; P.A. 10-148, S. 1; P.A. 17-182, S. 2.) History: P.A. 03-167 deleted provision re section not to be construed to require construction contr…
Official source: Connecticut General Assembly. Reproduced from public-domain Connecticut statutes; confirm against the official source for the current text. Not legal advice.