Retainage from Subcontractors Clause Samples
The 'Retainage from Subcontractors' clause establishes the right of the contractor to withhold a specified percentage of payment from subcontractors until certain project milestones or final completion are achieved. Typically, this means that a portion of each payment due to a subcontractor is held back as security to ensure the subcontractor completes their work satisfactorily and addresses any defects or outstanding obligations. This clause serves to protect the contractor and project owner by providing leverage to ensure quality and timely performance, and by creating a financial incentive for subcontractors to fulfill all contractual requirements before receiving full payment.
Retainage from Subcontractors. Except with the Owner's prior approval, payments to Subcontractors shall be subject to retainage of no more than 5%. The Owner and the CM/GC shall agree upon a mutually acceptable procedure for review and approval of payments and retainage for Subcontractors.
Retainage from Subcontractors. Except with the Owner’s prior approval, payments to Subcontractors shall not be subject to retainage. The Owner and the CM AT RISK shall agree upon a mutually acceptable procedure for review and approval of payments and retainage for Subcontractors.
Retainage from Subcontractors. Payments to Subcontractors shall not be subject to retainage and shall be paid consistent with the provisions of the General Conditions for the Construction Manager at Risk Agreement.
Retainage from Subcontractors. Except with City’s prior approval, payments to Subcontractors will be subject to retainage of 5%. City and Contractor will agree upon a mutually acceptable procedure for review and approval of payments and retainage for Subcontractors.
Retainage from Subcontractors. Except with the City's prior approval and as allowed under Oregon law, payments to Subcontractors shall be subject to retainage of no more than 5%. The City and the CM/GC shall agree upon a mutually acceptable procedure for review and approval of payments and retainage for Subcontractors.
Retainage from Subcontractors. Except with the Owner's prior approval, payments to Subcontractors shall be subject to retainage of no more than