C.R.S.
Section 38-46-101
Definitions
(1)
“Contract” means a contract to construct, alter, or repair a structure on or improvement on real property.(2)
“Contractor” means a person that is a party to a contract with a property owner.(3)
“Property owner” means a private person with an interest, including a leasehold interest, in real property or in a real property fixture that has entered into a contract with a contractor.(4)
“Retainage” means a percentage of:(a)
A contract or subcontract price retained from a contractor or subcontractor as assurance that the contract or subcontract will be satisfactorily completed; or(b)
A supply agreement price as assurance that the goods, materials, or equipment meets the specifications necessary for satisfactory performance of a contract or subcontract.(5)
Intentionally left blank —Ed.(a)
“Subcontract” means an agreement:(I)
To perform a portion of the work required by a contract; and(II)
To furnish or perform on-site labor, with or without furnishing materials.(b)
To be a subcontract, an agreement need not be made directly with a contractor; the agreement may be made with a subcontractor or a subsequent subcontractor.(6)
“Subcontractor” means a person that enters into a subcontract with a contractor, a subcontractor, or a subsequent subcontractor.(7)
“Subsequent subcontractor” includes a person who has signed a subcontract with a sub-subcontractor, a sub-sub-subcontractor, or any additional level of subcontractor.(8)
“Supply agreement” means an agreement to provide materials, goods, or equipment to a contractor or subcontractor.
Source:
Section 38-46-101 — Definitions, https://leg.colorado.gov/sites/default/files/images/olls/crs2023-title-38.pdf (accessed Oct. 20, 2023).
Up to date