Virginia § 2.2-4333 - Retainage on construction contracts
Full text of Virginia Code of Virginia § 2.2-4333 — Retainage on construction contracts, with citation guidance and answers to common questions.
§ 2.2-4333. Retainage on construction contracts
A. In any public contract for construction that provides for progress payments in installments based upon an estimated percentage of completion, the contractor shall be paid at least ninety-five percent of the earned sum when payment is due, with no more than five percent being retained to ensure faithful performance of the contract. All amounts withheld may be included in the final payment.
B. Any subcontract for a public project that provides for similar progress payments shall be subject to the provisions of this section.
1982, c. 647, § 11-56; 2001, c. 844.
Frequently Asked Questions About Virginia § 2.2-4333
What does Code of Virginia § 2.2-4333 cover?
Section 2.2-4333 ("Retainage on construction contracts") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 2.2-4333?
A common citation format is "Code of Virginia § 2.2-4333" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 2.2-4333 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.