436.321. Adjustment in retainage, when. - Missouri Statutes

Adjustment in retainage, when.

436.321. If it is determined that a subcontractor's performance hasbeen satisfactorily completed and the subcontractor can be released priorto substantial completion of the entire project without risk to the ownerinvolving the subcontractor's work, the contractor shall request suchadjustment in retainage, if any, from the owner as necessary to enable thecontractor to pay the subcontractor in full, and the owner shall as part ofthe next contractual payment cycle release the subcontractor's retainage tothe contractor, who shall in turn as part of the next contractual paymentcycle release such retainage as is due the subcontractor.

(L. 2002 H.B. 1403)