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Colorado Revised Statutes Title 38. Property Real and Personal § 38-46-101. Definitions

Current as of January 01, 2022 | Updated by FindLaw Staff

As used in this article 46, unless the context otherwise requires:

(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)(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.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 38. Property Real and Personal § 38-46-101. Definitions - last updated January 01, 2022 | https://codes.findlaw.com/co/title-38-property-real-and-personal/co-rev-st-sect-38-46-101/

Read this complete Colorado Revised Statutes Title 38. Property Real and Personal § 38-46-101. Definitions on Westlaw. Westlaw subscription required.

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