Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
15.72 PROGRESS PAYMENTS ON PUBLIC CONTRACTS; RETAINAGE.
Subdivision 1. Monthly payments. Unless the terms of the contract provide otherwise,
a public contracting agency shall make progress payments on a public contract for a public
improvement monthly as the work progresses. Payments shall be based upon estimates of work
completed as approved by the public contracting agency. A progress payment shall not be
considered acceptance or approval of any work or waiver of any defects therein.
Subd. 2. Retainage. A public contracting agency may reserve as retainage from any progress
payment on a public contract for a public improvement an amount not to exceed five percent of the
payment. A public agency may reduce the amount of the retainage and may eliminate retainage on
any monthly contract payment if, in the agency's opinion, the work is progressing satisfactorily.
History: 1980 c 464 s 2
Subdivision 1. Monthly payments. Unless the terms of the contract provide otherwise,
a public contracting agency shall make progress payments on a public contract for a public
improvement monthly as the work progresses. Payments shall be based upon estimates of work
completed as approved by the public contracting agency. A progress payment shall not be
considered acceptance or approval of any work or waiver of any defects therein.
Subd. 2. Retainage. A public contracting agency may reserve as retainage from any progress
payment on a public contract for a public improvement an amount not to exceed five percent of the
payment. A public agency may reduce the amount of the retainage and may eliminate retainage on
any monthly contract payment if, in the agency's opinion, the work is progressing satisfactorily.
History: 1980 c 464 s 2
Official Publication of the State of Minnesota
Revisor of Statutes