There Is a Newer Version
of
the Georgia Code
2006 Georgia Code - 13-11-5
13-11-5. (a) Nothing in this chapter shall prevent the
owner from withholding payment to its contractor because of the
following: unsatisfactory job progress; defective construction
which has not been remedied; disputed work; third-party claims
filed or reasonable evidence that a claim will be filed; failure of
the contractor or its subcontractor to make timely payments for
labor, equipment, and materials; damage caused by the contractor to
the owner, other contractors, or subcontractors; or reasonable
evidence that the contract cannot be completed for the unpaid
balance of the contract sum. In addition to the other bases for
withholding set forth in this subsection, the owner may withhold a
reasonable amount for retainage, provided that the retainage
withheld by the owner shall not exceed the retainage percentage set
forth in the contract between the contractor and the owner.
(b) Nothing in this chapter shall
prevent the contractor or a subcontractor from withholding payment
to a subcontractor for: unsatisfactory job progress; defective
construction which has not been remedied; disputed work;
third-party claims filed or reasonable evidence that a claim will
be filed; failure of the subcontractor to make timely payments for
labor, equipment, and materials; damage caused by the subcontractor
to the owner, the contractor, or contractors or subcontractors; or
reasonable evidence that the subcontract cannot be completed for
the unpaid balance of the subcontract sum. In addition to the other
bases for withholding set forth in this subsection, the contractor
or the subcontractor, as the case may be, may withhold a reasonable
amount for retainage, provided that the retainage withheld shall
not exceed the percentage retained from the contractor by the owner
on account of the subcontractor´s work.
Disclaimer: These codes may not be the most recent version. Georgia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
