A Washington Notice of Completion of Public Works Contract is a document used in the State of Washington to certify the completion of a public works contract. It serves as proof that the public works contract has been completed and is signed by the contractor, owner, and any other parties involved in the contract. The notice must be filed with the county auditor in the county where the project was completed within 90 days of the completion of the contract. There are two types of Washington Notice of Completion of Public Works Contract: (1) Notice of Completion of Public Works Contract and (2) Notice of Completion of Public Works Contract Not Requiring Retain age. The first type is for contracts that do not require retain age (such as those paid in full upon completion) and the second type is for contracts that do require retain age (where a portion of the payment is held back until the contract is completed). Both types of notices must include the name of the contractor, the owner, a description of the completed work, the date the work was completed, the date of the notice, and the signature of all parties involved.
Washington Notice of Completion of Public Works Contract
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How to fill out Washington Notice Of Completion Of Public Works Contract?
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For example, if the complete project cost is $200,000 to be paid in five progress payments and the percentage to be retained is 5%, the calculation would be as follows: 200,000 x 0.05 = 10,000 total retainage amount. 10,000 divided by 5 = 2,000 retainage withheld from each progress payment.
In Washington, written contract disputes have a statute of limitations of six years and oral contracts have a statute of limitations of three years.
A Washington Notice to Owner, also known as a Model Disclosure Statement, is a document that prime contractors must provide the property owner on smaller jobs before work commences.
The percentage of retainage withheld is sometimes fixed and sometimes a matter of agreement, but is most commonly set between 5% and 10% of the total approved funds.
Retainage is the withholding of a portion of each progress payment earned until a construction project is complete.
What is a Public Work? RCW 39.04. 010(4) defines "public work" as: All work, construction, alteration, repair, or improvement other than ordinary maintenance, executed at the cost of the state or of any municipality, or which is by law a lien or charge on any property therein. ?
Washington's retainage limits and deadlines The amount of retainage that can be withheld on public projects is generally capped at 5%. However, if the contract is for $150,000 or less, retainage may be withheld at a higher rate of 10% instead of requiring the contractor to post a bond.
While the statutory definition of substantial completion varies from state to state, most agree that a project is substantially complete when it can be used for its intended purpose. A construction project need not be absolutely complete; however, any remaining work or defects must be relatively minor and unimportant.