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There is not a requirement that the public works contract contain a retainage fee; however, R.S. 38:2248 provides that if the entity chooses to use a retainage fee in its public works contract, it cannot exceed 10% if the contract price is less than $500,000 and it cannot exceed 5% if the contract price is $500,000 or more.
Louisiana Legislative Auditor website: 04/10/2026 07:21:23 AM
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