{"data":{"id":"us-ok/okla.-stat.-tit.-61-61-226","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 61, § 61-226","heading":"Retainage of portion of payment due - Release","body":"A. A public construction contract shall provide for partial\n\npayment based upon work completed. The contract shall provide that\n\nup to five percent (5%) of all partial payments made shall be\n\nwithheld as retainage. At any time the contractor has completed in\n\nexcess of fifty percent (50%) of the total contract amount, the\n\nretainage shall be reduced to two and one-half percent (2.5%) of the\n\namount earned to date once the owner or owner's duly authorized\n\nrepresentative has determined that satisfactory progress is being\n\nmade.\n\nB. A subcontract shall include a provision for the retainage of\n\na portion of payment due. Such retainage shall not exceed five\n\npercent (5%) of the amount of the payment due. When the work of the\n\nsubcontractor has been determined by the holder to be at least fifty\n\npercent (50%) complete, the retainage shall be reduced to two and\n\none-half percent (2.5%) of the original contract amount.\n\nC. No later than twenty-one (21) calendar days after a\n\ncertificate of substantial completion is issued for the project or\n\nseparate usable phase of the project and upon adequate performance\n\nof the prime contractor and with approval of any applicable surety,\n\nretainage shall be released by the owner to the prime contractor\n\nless an amount no greater than one hundred fifty percent (150%) of\n\nthe estimated costs to correct any incomplete or defective work as\n\nidentified, itemized, and attached to the certificate of substantial\n\ncompletion. All remaining funds shall be released as each\n\ndeficiency is satisfactorily completed. The prime contractor shall\n\nrelease within ten (10) calendar days of receipt the share of those\n\nfunds that have been withheld from other entities. All other\n\nentities shall release within seven (7) calendar days of receipt the\n\nshare of those funds that have been withheld from other entities.","path":["OK Code","Title 61"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os61.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"e485a9753e6ddde55a138355d2170bc1375778e496bc83719af470f321705366","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-61-61-225","next":"us-ok/okla.-stat.-tit.-61-61-227"},"notice":"GroundRules: Original legal text. Not legal advice."}