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337.10 MINNESOTA STATUTES 2019 <br />(1) 250 percent of the cost to correct or complete work known at the time of substantial completion; and <br />(2) one percent of the value of the contract or $500, whichever is greater, pending completion and <br />submission of all final paperwork by the contractor or subcontractor. For purposes of this subdivision, "final <br />paperwork" means documents required to fulfill contractual obligations, including, but not limited to, <br />operation manuals, payroll documents for projects subject to prevailing wage requirements, and the <br />withholding exemption certificate required by section 270C.66. <br />If the owner or the owner's agent withholds payment under this paragraph, the owner or the owner's agent <br />must promptly provide a written statement detailing the amount and basis of withholding to the contractor. <br />The owner or the owner's agent and the contractor must provide a copy of this statement to any subcontractor <br />that requests it. Any amounts withheld under clause (1) must be paid within 60 days after completion of the <br />work. Any amounts withheld under clause (2) must be paid within 60 days after submission of all final <br />paperwork. <br />(f) Withholding retainage for warranty work is prohibited. This provision does not waive any rights for <br />warranty claims. <br />(g) This subdivision does not apply to a public agency as defined in section 15.71, subdivision 3. <br />(h) This subdivision does not apply to contracts for professional services as defined in sections 326.02 <br />to 326.15. <br />(i) Nothing in this section requires payment for a portion of a contract that is not complete or for which <br />an invoice has not been submitted. <br />Subd. 5. Definition. For the purpose of this section, "building and construction contract" has the meaning <br />given the term in section 337.01. <br />History: 1997 c 127 s 1; 1998 c 289 s 1, 2; 1999 c 116 s 2; 2007 c 140 art 8 s 30; art 13 s 4; 2009 c 66 <br />s1,2; 2016 c 133 s 1,2; 1Sp2019 c 7 art 9 s 13 <br />Copyright U 2019 by the Revisor of Statutes, State of Minnesota. All Rights Reserved. <br />