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AGO Opinions with Topic: RETAINED PERCENTAGE OF MONEYS
AGO 1971 No. 2 >  January 13, 1971
CONTRACTS - PUBLIC WORKS - RETAINED PERCENTAGE OF MONEYS - BID SPECIFICATIONS
CONTRACTS ‑- PUBLIC WORKS ‑- RETAINED PERCENTAGE OF MONEYS ‑- BID SPECIFICATIONS (1) A public body to which RCW 60.28.010 applies, in calling for bids for a public works contract, may not require in its bid specifications or otherwise that all prospective bidders indicate in their bid proposals whether or not they will elect to have the retained percentage of moneys earned on the contract placed in escrow for investment as provided for in § 1, chapter 38, Laws of 1970, instead of leaving it with the public body.(2) A public body to which RCW 60.28.010 applies, in determining the lowest and best bidder for a public works contract, may not, in awarding the contract, take into account a statement of intent by a particular bidder as to whether or not, if awarded the contract, he will elect to leave his "retained percentage" with the public body pending completion of his performance under the contract.
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