2023 Florida Statutes
< Back to Statute SearchTitle XXVI PUBLIC TRANSPORTATION
Chapter 337
CONTRACTING; ACQUISITION, DISPOSAL, AND USE OF PROPERTY
SECTION 175Retainage.
337.175 Retainage.—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.
History.—s. 9, ch. 87-100; s. 48, ch. 90-136; s. 122, ch. 92-152; s. 497, ch. 95-148; s. 13, ch. 2000-266.