Retainage
Retainage Held Above the Cap: Challenge Letter (New Jersey)
Challenge retainage held above what New Jersey permits, with the ceiling for each job type, what it is a percentage OF, and the threshold it turns on, all set out and cited. A cap is a ceiling and not an entitlement: check your own contract first.
Medium risk
Check your contract first. Consider a peer review before sending.
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When to use this
- •More is being held than New Jersey appears to permit
- •Checking a withholding clause against the statutory ceiling before signing
- •Asking the payer to name the provision they say allows the amount held