{"data":{"id":"us-in/ic-4-13.6-7-8","jurisdiction":"us-in","citation":"IC 4-13.6-7-8","heading":"Final settlement with contractor","body":"Sec. 8. (a) Except for amounts withheld:\n(1) from the contractor under section 3 of this chapter for uncompleted minor items; and\n(2) under subsection (b);\nthe division may make a full, final, and complete settlement with a contractor, including providing for full payment of all escrowed principal and escrowed income, not later than sixty-one (61) days following the date of substantial completion if the contractor has materially fulfilled all of its obligations under the public works contract.\n(b) If the division receives a claim from a subcontractor or a supplier under section 9 of this chapter, the division shall withhold the amount of the claim until the claim is resolved under section 9(c) of this chapter.\n(c) After the division makes a final settlement with a contractor, all claims by subcontractors and suppliers to funds withheld from that contractor under section 2 of this chapter are barred.","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#4-13.6-7-8","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-30T06:26:00Z","sha256":"adb8584802fd010847331fc290b1c7a48ce6c7e53e7cdf290a275a046d59e6f3","source_id":"us-in","stale":false,"prev":"us-in/ic-4-13.6-7-7","next":"us-in/ic-4-13.6-7-9"},"notice":"GroundRules: Original legal text. Not legal advice."}