Under the general direction of the Director of Procurement Services and the immediate supervision of the Associate Director of Capital Projects and Contract Administration (CPCA), and/or his/her designee, this position will support the University’s capital program (which includes the Next Generation/UCONN 2000) by prequalifying design professional services and construction contractors, soliciting Continue reading
Public Act 16-104, effective 07/01/16, “AN ACT CONCERNING PUBLIC WORK CONTRACT RETAINAGE AND ENFORCEMENT OF THE RIGHT TO PAYMENT ON A BOND.”
There has been a change in the Retainage Requirement for state projects that was considered during the past Legislative session and passed in June 2016, under PA 16-104.
Effective 07/01/16, the awarding state authority shall not withhold more than 7.5% retainage for state projects. The amount of retainage will be reduced to 5% once the contract is 50% complete. Prime and General Contractors on state projects must also adhere to these new requirements for subcontractors.
Please see PA 16-104 for further information. www.cga.ct.gov/2016/ACT/pa/2016PA-00104-R00HB-05328-PA.htm.
Based on this new information and to keep the contractor community well-informed, the University would like to ensure contractors that all new contracts, effective 07/01/16, from the University will conform to the new retainage requirement.
Below is the presentation that Laura Cruickshank, FAIA, presented at the “Change In The State Of The State” conference October 16, 2015.