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CONVENED: ___202436 ADJOURNED: ___LAKE COUNTY COMMISSIONERS\' MEETING SEPTEMBER 10, 2024 10:00 A.M. JOHN T. PLECNIK, PRESIDENT JOHN R. HAMERCHECK, COMMISSIONER RICHARD J. REGOVICH, COMMISSIONERJASON

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How to fill out 3 release of retainage

01

Gather all necessary documentation related to the project, including contracts and invoices.

02

Verify the amounts retained from previous payments.

03

Fill out the release form with project information, including the project name, contractor name, and contract number.

04

Specify the amount being released from retainage in the appropriate section.

05

Include any applicable details regarding work completed and any requirements for releasing the retainage.

06

Sign and date the release form.

07

Submit the completed release form to the relevant parties, such as the client or project owner.

Who needs 3 release of retainage?

01

General contractors who have been retaining a portion of payment for subcontractors.

02

Subcontractors looking to receive their retained funds upon project completion.

03

Clients or project owners who are managing contract payments and need to issue retainage releases.

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What is 3 release of retainage?

The 3 release of retainage is a document used in construction projects to formally release the retainage amount withheld from a contractor or subcontractor after completion of specific stages of work.

Who is required to file 3 release of retainage?

Typically, the contractor or subcontractor who has received payment but has had retainage withheld is required to file the 3 release of retainage.

How to fill out 3 release of retainage?

To fill out the 3 release of retainage, you need to provide the details of the project, the amount of retainage being released, the parties involved, and any relevant contract information.

What is the purpose of 3 release of retainage?

The purpose of the 3 release of retainage is to document the release of the retained funds to the contractor or subcontractor, ensuring that they receive payment for completed work.

What information must be reported on 3 release of retainage?

Information reported on the 3 release of retainage typically includes the project name, the contractor's details, retainage amount, contract number, and signatures of relevant parties.

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