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Retainage on Washington projects

  • 1.  Retainage on Washington projects

    Posted 07-22-2014 13:35
    This message has been cross posted to the following Discussions: Puget Sound, Seattle, WA and General Inquiries .
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    Does anyone have a magic solution to getting retention in a timely manner on Washington state jobs from GC's? 
     
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    Troy Van Dinter
    CFO
    interiorTech
    Willsonville OR
    (503) 427-1084
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  • 2.  RE: Retainage on Washington projects

    Posted 07-23-2014 11:38
    There is no magic solution.  The issue we have as a GC  is subcontractors not completing their compliance items accurately and  timely.  Washington state will not release retention until all subcontractors and their sub-tiers have filed prevailing wage intents and affidavits and have proof of workers' comp coverage.  Oftentimes our subs (and their subs) fail to list their subcontractors on the affidavit.  We are then chasing everyone to be sure all parties have filed intents and affidavits.  If a sub-tier disappears without filing their prevailing wage intent/affidavits we have to go through a "filing on behalf of" process that adds at least 60 days to a closeout once it has been determined that someone has closed their doors or otherwise refuses to file.  If someone anywhere in the chain doesn't do their part it holds up everyone.

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    Nancy Stratton
    Vp - Controller And Treasurer
    Sellen Construction Company
    Seattle WA
    (206) 805-7176
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  • 3.  RE: Retainage on Washington projects

    Posted 08-28-2014 11:17
    Troy,

    One of the other biggest obstacles we find in getting our retention released is getting L&I clearance on the contract.  This is a slow process anyway (haven't seen it happen faster than 3 months) and gets even slower if they decide to audit any of the subcontractors on the project.  There is very little transparency in their process.  When you talk to folks at L&I about why it takes so long, they say they are understaffed.   

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    Cesar Torres Accounting
    Operations Accountant
    Graham Group (US) Inc.
    Seattle WA
    (206) 729-8844
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