In Mississippi, what is the acceptable retainage percentage to withhold from subcontractors until project completion?

In Mississippi, the acceptable retainage percentage that can be withheld from subcontractors until the project is completed is typically between 5 to 10%. This standard retainage percentage is intended to ensure that subcontractors maintain a level of quality and can address any outstanding issues before final payment is released. Retainage acts as a form of security for the prime contractor or project owner, helping to ensure that all work is completed satisfactorily and that any potential disputes can be resolved. Withholding 5 to 10% is commonly found in construction contracts and aligns with industry practices, providing balance between protecting the interests of contractors and ensuring cash flow for subcontractors throughout the project's duration.