Form D-164 Retainage Bond - Washington

What Is Form D-164?

This is a legal form that was released by the Washington State Office of Superintendent of Public Instruction - a government authority operating within Washington. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form D-164?
A: Form D-164 is a Retainage Bond in Washington.

Q: What is a retainage bond?
A: A retainage bond is a type of surety bond that guarantees payment of retainage, which is a portion of the contract price withheld until the completion of the project.

Q: Who needs to use Form D-164?
A: Contractors and suppliers in Washington who are required to post a retainage bond.

Q: What is the purpose of Form D-164?
A: The purpose of Form D-164 is to provide a guarantee that the contractor or supplier will fulfill their obligations and pay the retainage amount.

Q: Is Form D-164 required for all construction projects in Washington?
A: No, Form D-164 is not required for all construction projects. Its requirement is determined by the contract terms.

Q: How much does Form D-164 cost?
A: The cost of Form D-164 will vary based on factors such as the contract amount and the contractor's credit history.

Q: How long does a retainage bond remain in effect?
A: A retainage bond remains in effect until the completion of the project and the release of the retainage amount.

Q: What happens if the contractor fails to pay the retainage?
A: If the contractor fails to pay the retainage, the bond can be used to compensate the project owner for the unpaid amount.

Q: Can I cancel a retainage bond?
A: Yes, a retainage bond can be canceled if the project owner agrees to release the retainage amount and no further claims are expected.