Common use of Retainage Clause in Contracts

Retainage. The rate of retainage shall be that stated on the first page of this Subcontract Agreement, which amount is equal to the percentage retained (the “Retainage”) from the Contractor’s payment by the Owner for the Subcontract Work. If the Subcontract Work is satisfactory and the Contract Documents provide for reduction of retainage at a specified percentage of completion, then the Retainage shall also be reduced when the Subcontract Work has attained the same percentage of completion and the Contractor’s retainage for the Subcontract Work has been so reduced by the Owner. Payment and release of Retainage may be subject to local and/or state law governing the same.

Retainage. The rate of retainage shall be that stated on the first page of this Subcontract Agreement, which amount is equal to the percentage retained (the “"Retainage”") from the Contractor’s 's payment by the Owner for the Subcontract Work. If the Subcontract Work is satisfactory and the Contract Documents provide for reduction of retainage at a specified percentage of completion, then the Retainage shall also be reduced when the Subcontract Work has attained the same percentage of completion and the Contractor’s 's retainage for the Subcontract Work has been so reduced by the Owner. Payment and release of Retainage may be subject to local and/or state law governing the same.

Retainage. The rate of retainage shall be that stated on the first page of this Subcontract Agreement, which amount is equal to the percentage retained (the “Retainage”) from the Contractor’s payment by the Owner General Contractor for the Subcontract Work. If the Subcontract Work is satisfactory and the Contract Documents provide for reduction of retainage at a specified percentage of completion, then the Retainage shall also be reduced when the Subcontract Work has attained the same percentage of completion and the Contractor’s retainage for the Subcontract Work has been so reduced by the OwnerGeneral Contractor. Payment and release of Retainage may be subject to local and/or state law governing the same.

Retainage. The rate of retainage shall be that stated on the first page of this Subcontract Agreement, which amount is equal to the percentage retained (the “Retainage”) from the Contractor’s payment by the Owner General Contractor for the Subcontract Work. If the Subcontract Work is satisfactory and the Contract Documents provide for reduction of retainage at a specified percentage of completion, then the Retainage shall also be reduced when the Subcontract Work has attained the same percentage of completion and the Contractor’s retainage for the Subcontract Work has been so reduced by the OwnerGeneral Contractor. Payment and release of Retainage may be subject to local and/or state law governing the same.. SAMPLE