Oregon State Bar: Construction Law Newsletter
NEW RETAINAGE REQUIREMENTS RAISE MORE QUESTIONS THAN ANSWERS Recent amendments to ORS 279C.570 and ORS 701.420 create new requirements for retainage withheld on public and private construction contracts. Effective January 1, 2020, if the contract price exceeds $500,000, the contracting agency, private owner, contractor, or subcontractor must place amounts deducted as retainage into an interest-bearing...