Tips from Centra Lawyers

Should I hold back 10% of the project payments?

Should I hold back 10% of the project payments?

Section 4 of the Builders Lien Act requires the owner to retain a holdback equal to 10% of the total payments made under the contract. As this is a statutory requirement, this is not negotiable.

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Centra Lawyers is a full-service law firm serving primarily the Maple Ridge, Pitt Meadows and the Lower Mainland of BC. Our lawyers, and support staff, are committed to our clients’ matters and will do what it takes to deliver excellent service at an affordable price.

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102 – 20110 Lougheed Highway, Maple Ridge, BC, V2X 2P7

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