337.175 Retainage.
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/fl/title-xxvi/chapter-337/337-175A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The department may provide in its construction contracts for retaining a portion of the amount due a contractor for work that the contractor has completed, until completion and final acceptance of the project by the department. If the department allows, contractors may substitute securities as provided by s. 255.052 , or substitute certificates of deposit or irrevocable letters of credit approved by the department comptroller in lieu of retainage.