Retention Money means the accumulated retention moneys which the Procuring Entity retains under Sub-Clause

Retention Money means the money retained from R.A.Bills for the due completion of the "LET WORS".

Examples of Retention Money in a sentence

Apart from ISD as mentioned above, Retention money shall be deducted from each bill of the contractor @ 10 % of the gross value of the bill till Total Security Deposit equals to 5% of the accepted contract value i.e TSD= ISD + Retention Money.
Release of Retention Money to the Contractor under Sub-Clause 60.3 “Payment of Retention Money”.
Retention Money should be refunded after issue of No Defect Certificate.
The Retention Money shall be released after the satisfactory completion of defect liability period after liquidating the defects.
Payments of final bill shall be made after deduction of Retention Money as specified, which shall be refunded after the completion of the Defects Liability Period provided the contractor has rectified all defects to the satisfaction of the Bank.

More Definitions of Retention Money

Retention Money means the aggregate of all monies retained by the Employer.

Retention Money means the accumulated retention moneys which the Procuring Entity retains under Sub- Clause 14.3 [Application for Interim Payment Certificates] and pays under Sub-Clause 14.9 [Payment of Retention Money].

Retention Money means the aggregate of all monies retained by the Employer pursuant to Sub-Clause 60.2(a).

Retention Money means the aggregate of all monies retained by the Employer pursuant to Clause – 38 of Section II.

Retention Money shall have the meaning set forth in Clause 7.5;

Retention Money means the aggregate of all monies retained by the Employer pursuant to GCC 45.1.