Final Committee Position on the AGC's Recommendation that Approved Securities Be Posted in Lieu of Retained Percentages

Committee on Contract Administration of the Construction Division, ASCE

Serial Information: Journal of the Construction Division, 1971, Vol. 97, Issue 2, Pg. 271-276

Document Type: Journal Paper


ASCE-AGC Joint Committee requested ASCE to examine contract retainages with a view to their elimination and to consider approved securities in lieu of retained percentage. The Committee on Contract Administration recommends that contract retainages not be eliminated and substitution of approved securities not be allowed. Included is a Minority Report.

Subject Headings: Contracts | Security | Joints

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