Substantial Confusion Upon Substantial Completion

If you've worked on a Tennessee construction project, you know about retainage: It's the percentage of earned contract payments an owner holds back as work progresses. What you may not know is that the law governing when those funds must be released has become unsettled. A seemingly straightforward retainage dispute can produce starkly different legal conclusions depending on which statute, court decision or interpretation of the 2020 legislative amendment a tribunal adopts. For owners and... By: Holland & Knight LLP