By Brian A. Wolf of Smith, Currie and Hancock LLP
Published September 21, 2020
On September 18, 2020, Florida’s Governor signed House Bill 101 amending most of the statutes setting the allowable retainage for public construction projects in Florida. The amendments limit retainage to a maximum amount of five percent. Previously, the amount was ten percent until fifty-percent completion, then a reduction to five percent. The amendments are effective October 1, 2020, are not retroactive, and do not apply to projects advertised for bid prior to the effective date. The amendments do not apply to private projects or FDOT projects. Retainage for public transportation projects – governed by section 337.175, Florida Statutes – is excluded.
Brian A. Wolf is a partner in the Fort Lauderdale office of Smith, Currie & Hancock LLP. His practice is concentrated in the defense and prosecution of complex construction and design claims involving both public and private projects. He can be reached at bawolf@smithcurrie.com or 954.769.5330.