Exclusion of Retention. a. In conformance with 49 CFR, Part 26, Subpart B, Section 26.29 (b)(1), the retention of proceeds required by Public Contract Code (“PCC”), Section 10261 shall not apply. In conformance with PCC, Section 7200 (b), in subcontracts between the Construction Manager and a subcontractor and in subcontracts between a subcontractor and any subcontractor thereunder, retention proceeds shall not be withheld, and the exceptions provided in PCC 7200 (c), shall not apply. At the option of the Construction Manager, subcontractors may be required to furnish payment and performance bonds issued by an admitted surety insurer.
Appears in 13 contracts
Samples: Preconstruction Services Contract, Preconstruction Services Contract, Preconstruction Services Contract
