Texas Administrative Code
Title 31 - NATURAL RESOURCES AND CONSERVATION
Part 10 - TEXAS WATER DEVELOPMENT BOARD
Chapter 371 - DRINKING WATER STATE REVOLVING FUND
Subchapter H - CONSTRUCTION AND POST-CONSTRUCTION REQUIREMENTS
Section 371.88 - Release of Retainage
Universal Citation: 31 TX Admin Code ยง 371.88
Current through Reg. 49, No. 38; September 20, 2024
(a) Retainage. The Applicant will withhold a minimum of five percent of each progress payment throughout the course of the construction contract.
(b) Full release of retainage. The executive administrator will approve the full release of retainage on a contract when:
(1) the Applicant's engineer approves the
contractor's request for release of retainage; and
(2) the Applicant's governing body approves
the release of retainage; and
(3)
the executive administrator issues the Certificate of Approval.
(c) Partial release of retainage. If the executive administrator determines that a project is substantially complete, the executive administrator may approve a partial release of retainage.
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