Common use of Subcontractor’s Retainage Release Clause in Contracts

Subcontractor’s Retainage Release. Upon request by the CM/GC, Owner may, but is not required, to permit an amount equal to the subcontract retainage of a Subcontractor to be separately released from the retainage held by the Owner as he completes his work. An application in accordance with the Owner’s specimen form (See Section 7, Forms) for release of a Subcontractor's retainage shall contain a release of all claims by the Subcontractor and shall bear the original certificates of the Subcontractor, the CM/GC, and the Design Professional that the Subcontractor's work has been fully performed and that the sum for which payment is requested is due by the CM/GC to the Subcontractor. Before receiving any portion of the retainage the CM/GC will be required to furnish a non-influence affidavit and a statutory affidavit executed by the Subcontractor in the exact form as shown in Section 7. Checks releasing a Subcontractor's retainage shall be made payable to the CM/GC, the CM/GC’s surety, and the Subcontractor and shall be mailed to the CM/GC’s surety. This article does not create any contractual relationship between the Owner and the Subcontractor or any duty of the Owner to any Subcontractor.

Subcontractor’s Retainage Release. Upon request by the CM/GCDesign-Builder, Owner may, but is not required, to permit an amount equal to the subcontract retainage of a Subcontractor to be separately released from the retainage held by the Owner as he completes his work. An application in accordance with the Owner’s specimen form (See Section 7, Forms) for release of a Subcontractor's retainage shall contain a release of all claims by the Subcontractor and shall bear the original certificates of the Subcontractor, the CM/GCDesign-Builder, and the Design Professional Executive Administrator that the Subcontractor's work has been fully performed and that the sum for which payment is requested is due by the CM/GC Design-Builder to the Subcontractor. Before receiving any portion of the retainage the CM/GC Design-Builder will be required to furnish a non-influence affidavit and a statutory affidavit executed by the Subcontractor in the exact form as shown in Section 7. Checks releasing a Subcontractor's retainage shall be made payable to the CM/GCDesign-Builder, the CM/GCDesign-Builder’s surety, and the Subcontractor and shall be mailed to the CM/GCDesign-Builder’s surety. This article Section does not create any contractual relationship between the Owner and the Subcontractor or any duty of the Owner to any Subcontractor.

Subcontractor’s Retainage Release. Upon request by the CM/GC, Owner may, but is not required, to permit an amount equal to the subcontract retainage of a Subcontractor to be separately released from the retainage held by the Owner as he completes his work. An application in accordance with the Owner’s specimen Owner‟s form (See Section 7, Forms) for release of a Subcontractor's retainage shall contain a release of all claims by the Subcontractor and shall bear the original certificates of the Subcontractor, the CM/GC, and the Design Professional that the Subcontractor's work has been fully performed and that the sum for which payment is requested is due by the CM/GC to the Subcontractor. Before receiving any portion of the retainage the CM/GC will be required to furnish a non-influence affidavit and a statutory affidavit executed by the Subcontractor in the exact form as shown in Section 7. Checks releasing a Subcontractor's retainage shall be made payable to the CM/GC, the CM/GC’s GC‟s surety, and the Subcontractor and shall be mailed to the CM/GC’s GC‟s surety. This article section does not create any contractual relationship between the Owner and the Subcontractor or any duty of the Owner to any Subcontractor.