NM CID GF-3 Practice Questions - New Mexico CID GF-3 Canals, Reservoirs Or Irrigation Systems Contractor Examination Exam

Retainage on a public irrigation-construction contract is withheld primarily to:

Pay the contractor’s income taxes Give the owner security that punch-list and closeout work will be completed Increase the contractor’s bonding capacity Replace the need for performance bonding

Correct Answer:

Give the owner security that punch-list and closeout work will be completed

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