Call us: (905) 366 9700

Legal FAQs

What is a “holdback” under the Construction Lien Act?

Posted on September 10, 2012 | Posted in Construction, Legal FAQs

“Holdback” is a defined term. It means the 10 per cent of the value of the services or materials supplied under a contract or subcontract required to be withheld from payment by Part IV of the Construction Lien Act.

Disclaimer of Liability

The answers to the question of the day are intended to provide helpful general information; however, it is not legal advice. You must consult a lawyer if you have a specific legal question or issue that requires an answer.

 

Share:

Download our free checklist:

“10 Questions to ask before hiring a law firm”

DOWNLOAD

Speigel Nichols Fox LLP