Withholding of Retainage; Conversion to Lump Sum. Retainage shall be withheld from each periodic payment to the Contractor in the amount of ten percent of the sum of the total amount earned for work–in-place (original Contract), total amount earned for work-in-place (Change Orders), and Value of Materials stored at the Site. After one-half of the Contract Sum, including Change Orders, becomes due and the Work meets all of the following conditions:
Appears in 38 contracts
Samples: Construction Contract, Construction Contract, Construction Contract
Withholding of Retainage; Conversion to Lump Sum. Retainage shall be withheld from each periodic payment to the Contractor in the amount of ten percent of the sum of the total amount earned for work–in-place (original Contract), total amount earned for work-in-place (Change Orders), and Value of Materials stored at the Site. After one-half of the Contract Sum, including Change Orders, Orders becomes due and the Work meets all of the following conditions:
Appears in 35 contracts
Samples: Construction Contract, Construction Contract, Construction Contract
Withholding of Retainage; Conversion to Lump Sum. Retainage shall be withheld from each periodic payment to the Contractor in the amount of ten percent of the sum of the total amount earned for work–in-place (original Contract), total amount earned for work-in-in- place (Change Orders), and Value of Materials stored at the Site. After one-half of the Contract Sum, including Change Orders, Orders becomes due and the Work meets all of the following conditions:
Appears in 1 contract
Samples: Construction Contract
