Client Alert: New Public Contract Code Provisions Limit Public Works Project Retention Amounts

Client Alert: New Public Contract Code Provisions Limit Public Works Project Retention Amounts

Nov 16, 2011

Article

Brownstein Client Alert, November 16, 2011

California Governor Jerry Brown recently signed into law Senate Bill  293, restricting retention amounts for public works construction contracts to five percent (5%) of the total contract price. This new law amends Public Contract Code section 7201 and, subject to limited exceptions, applies to all contracts entered into on or after January 1, 2012.

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