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Get Instamed Ga-p-0218 2019-2025

CONFIDENTIALINSTAMED ORDER FORM PAYER PAYMENTS Complete Online register.instamed.com/eraeftGet paid faster and easier with ERA/EFT. Instructions 21 Review and complete entire form3 Sign signature.

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Retention, also called retainage, is money held back from each payment to ensure that a contractor or subcontractor completes a project.

2022 CHANGES Under §53.052(d), a lien for retainage must be filed no later than the 15th day of the 3rd month after the month the original contract was completed, terminated, or abandoned.

What is an Invalid Lien? An invalid lien is a lien that was not properly filed against a project. The contractor who filed the lien is probably still owed money, but the lien affidavit was not properly perfected because the correct steps were not taken.

Texas law obligates construction owners to withhold 10% of the value of the work during the course of a project and for 30 days after final completion. This is generally known as statutory retainage.

All of this language is a bit dense, but essentially, anyone who has an agreement to improve property with you directly, or an agreement with another contractor who has such an agreement with you, can file a lien if left unpaid. This commonly includes contractors, subcontractors, and material suppliers.

The client, who owes retainage to the contractor, records retainage as a liability. For example, if a contractor works on a $100,000 project with a ten percent retainage, then they will record $90,000 as accounts receivable and $10,000 as retainage due.

Steps to add retainage to the Chart of Accounts: Set Category Type to Other Current Assets. Set Detail Type to Retainage. Enter a Name for the account (e.g. Retainage Receivable) Click Save.

The only way to avoid the retainage requirement is to obtain a payment bond in conformance with Texas Property Code § 53.202.

Retainage is a percentage of the contract amount that is held until a specific date after the completion of the work. You release retainage by creating a voucher pay item with a Pay Status of A (Available to Pay) for the amount that you want to release. The retainage amount is also referred to as holdback.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232