Virginia
For Virginia, public project retainage cap (%) is 5%; private project retainage cap (%) is no statutory cap; release deadline is included in the final payment; escrow required is no; milestone reduction is none, recorded from its source on 2026-08-15.
- State
- Virginia
- Public project retainage cap (%)
- 5%
- Private project retainage cap (%)
- no statutory cap
- Release deadline
- included in the final payment verified
- Escrow required
- no verified
- Milestone reduction
- none
- Statutory citation
- Va. Code § 2.2-4333
What the source says
the contractor shall be paid at least ninety-five percent of the earned sum when payment is due, with no more than five percent being retained to ensure faithful performance of the contract. All amounts withheld may be included in the final payment.
— law.lis.virginia.gov, retrieved 2026-08-15
Source
- law.lis.virginia.govhttps://law.lis.virginia.gov/vacode/2.2-4333/