Retainage definition

Retainage means that portion of the purchase price of an Export Order that a Buyer is not obligated to pay until the end of a specified period of time following the satisfactory performance under such Export Order.

Retainage or “retained funds” means the amount withheld from a progress payment to a contractor pursuant to section 3.

Retainage means the difference between the amount earned by the Contractor on a GRDA Contract, with the work being accepted by the GRDA, and the amount paid on said Contract by the GRDA.

Examples of Retainage in a sentence

• Retainage A portion of the Authorized User and Contractor fixed-price agreement amount that is held back by the Authorized User until the deliverable or project is satisfactorily finished.

• Retainage As part of the Mini-Bid, the Authorized User may elect to retain a percentage of each individual Deliverable payment of no more than 20% until the acceptance of the complete Deliverable or project.

• 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.

• Xxxxxxx shall pay Transporter the charges and furnish Retainage as described in the above-referenced Rate Schedule, unless otherwise agreed to by the parties in writing and specified as an amendment to this Service Agreement.

• Except as otherwise agreed by Princeton University in its discretion, no amount of Retainage shall be paid to Contractor prior to final completion and Final Payment except as expressly provided herein.

More Definitions of Retainage

Retainage means that money belonging to the Contractor which has been retained by the awarding authority conditioned upon final completion and acceptance of all work in connection with the Project.

Retainage means the difference between the amount earned by the contractor on a public construction contract, with the work being accepted by the public agency, and the amount paid on said contract by the public agency.

Retainage means the part of the payments under a public work contract that are not required to be paid within the month after the month in which the public work labor is performed or public work material is delivered under the contract.

Retainage means the quantity of gas, expressed as a percentage of receipt quantities, Shipper must provide Transporter (in addition to quantities Transporter will deliver to Shipper) for company-use, lost and unaccounted-for quantities under any of Transporter's Rate Schedules that refer to such term.

Retainage means a portion or percentage of a payment due pursuant to a contract

Retainage. As defined in Section 13.1.

Retainage is an optional field and means the amount of the contract’s value that is retained.