Indiana
For Indiana, public project retainage cap (%) is per contract terms (escrow required when withheld); private project retainage cap (%) is no statutory cap; release deadline is per contract terms; escrow required is yes; milestone reduction is none, recorded from its source on 2026-08-17.
- State
- Indiana verified
- Public project retainage cap (%)
- per contract terms (escrow required when withheld)
- Private project retainage cap (%)
- no statutory cap
- Release deadline
- per contract terms
- Escrow required
- yes
- Milestone reduction
- none
- Statutory citation
- Ind. Code § 5-16-5-5.3 our reading
Values marked our reading are our classification of what the source says — the source does not print them in those words. The quote below is the evidence for each one; judge it yourself.
What the source says
provision for retainage shall include in their respective contracts a provision that at the time any retainage is withheld, the state agency and/or contractor shall place such retainage in an escrow account, with a bank, savings and loan institution, or the State of Indiana or an instrumentality thereof, as escrow agent selected by mutual agreement
— codes.findlaw.com, retrieved 2026-08-17
Source
- codes.findlaw.comhttps://codes.findlaw.com/in/title-5-state-and-local-administration/in-code-sect-5-16-5-5-3.html