Texas Government Code 2253.046 – Notice Required for Claim for Payment of Retainage
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(a) To recover in a suit under § 2253.073 on a payment bond for a claim for payment of retainage, a payment bond beneficiary whose contract with a prime contractor or subcontractor provides for retainage must mail written notice of the claim to the prime contractor and the surety on or before the 90th day after the date of final completion of the public work contract.
(b) The notice shall consist of a statement of:
(1) the amount of the contract;
(2) any amount paid; and
(3) the outstanding balance.
Terms Used In Texas Government Code 2253.046
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) Notice of a claim for payment of retainage is not required if the amount claimed is part of a prior claim made under this subchapter.