{"data":{"id":"us-in/ic-4-13.6-7-3","jurisdiction":"us-in","citation":"IC 4-13.6-7-3","heading":"Amount of retainage withheld","body":"Sec. 3. (a) To determine the amount of retainage to be withheld, the division shall elect one (1) of the following options:\n(1) To withhold no more than six percent (6%) of the dollar value of all work satisfactorily completed until the public work is fifty percent (50%) complete, and nothing further after that.\n(2) To withhold no more than three percent (3%) of the dollar value of all work satisfactorily completed until the public work is substantially complete.\n(b) Upon substantial completion of the work, the division shall withhold the following:\n(1) If there are any remaining uncompleted minor items, until those items are completed, an amount equal to two hundred percent (200%) of the value of each item as determined by the architect-engineer.\n(2) Any amounts required to be withheld under section 8(b) of this chapter.","path":["TITLE 4. STATE OFFICES AND ADMINISTRATION","ARTICLE 13.6. STATE PUBLIC WORKS","Chapter 7. Bonding, Escrow, and Retainages"],"source_url":"https://iga.in.gov/ic/2026/Title_4.html#4-13.6-7-3","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-30T06:26:00Z","sha256":"e8288f68537ef342ff91ddcaff6215e504b2a477e5ee9d8545cc3d4178601a88","source_id":"us-in","stale":false,"prev":"us-in/ic-4-13.6-7-2","next":"us-in/ic-4-13.6-7-4"},"notice":"GroundRules: Original legal text. Not legal advice."}