Final lien waivers
Your unconditional final waiver, plus sub-tier and supplier waivers if the GC requires them.
Home / Retainage, lien waivers and closeout
RETAINAGE
YOU ACTUALLY COLLECT.
Retainage is your money. We track it on every job from the first pay app, know what your contract and state law allow, and build the release package early so closeout paperwork never holds up your final check.
THE RULES
NEW JERSEY AND
NEW YORK CITY.
The rules differ across the river. We track the ones that apply to each job.
New York
On private construction contracts over $150,000, retainage is capped at 5%. Since December 19, 2025, contract terms that require more than 5% are void.
Source: Peckar & AbramsonNew Jersey
State law doesn't cap retainage on private projects, so your contract controls it. Under the Prompt Payment Act, a GC generally has to pay subs within 10 days of being paid, unless the contract says otherwise.
Source: Levelset Husch BlackwellGeneral information, not legal advice. Your contract and your attorney have the final word.
CLOSEOUT
WHAT HOLDS UP
THE FINAL CHECK.
One missing document can hold your entire retainage. We collect these as the work finishes, not after you demobilize.
Warranties
Equipment warranties with model and serial numbers, and your own workmanship warranty letter.
O&M and startup data
Operation and maintenance manuals, startup reports and test and balance reports for the systems you installed.
As-builts
Record drawings showing what was actually installed and where.
Consent of surety
On bonded jobs, the surety's consent to final payment or to the release of retainage.
Punch list sign-off
Written confirmation that your punch items are complete.
HOW WE DO IT
TRACKED FROM DAY ONE,
RELEASED ON TIME.
Every month we also keep a lien waiver register: conditional for the current request, unconditional for the payment you already received.
01
TRACK IT
Retainage held, by job and by pay app, on your monthly cash snapshot.
02
REQUEST REDUCTIONS
When your contract allows a reduction, such as at 50% complete or substantial completion, we prepare the request.
03
BUILD CLOSEOUT EARLY
Warranties, O&M data and startup reports collected as equipment goes in.
04
SEND ONE PACKAGE
Final pay app, final waivers, closeout documents and consent of surety, sent complete.
05
FOLLOW UP
We track the release against your contract and state law dates, and tell you when it's late.
THE DETAILS
WHAT YOU GET,
WHAT WE NEED.
So the last 5% doesn't become the hardest money to collect.
YOU GET
What we deliver
- A retainage tracker for every job
- A monthly lien waiver register
- A closeout checklist per job
- A complete retainage release package
- Follow-up dates and reminders
WE NEED
What we need from you
- Your subcontract's retainage and closeout terms
- Equipment submittals and warranty info as it's installed
- Signatures on waivers and the final pay app
- Your surety contact on bonded jobs
FIND THE RETAINAGE YOU'RE OWED.
Our free billing check includes a look at retainage you could request right now.