Examples of Retainage Amount in a sentence
This provision does not prevent the Contractor from seeking withdrawals of the Retainage Amount in excess of One Thousand Dollars ($1,000), pursuant to the requirements of §18-1-301, MCA.
Invoices shall include: • Name of LGU • LGU Project Manager • Agreement Amount • Retainage Amount – 10% will be calculated and withheld per invoice.
The Retainage Amount shall be paid to Contractor upon the City’s final approval of the project and agreement that all work required to be performed on the project is complete and satisfactory to the City.
When the Rehabilitation is 50% complete and paid for, Borrower may include 50% of the Retainage Amount previously retained in the Rehabilitation Escrow Fund in any subsequent Project Loan Fund Requisition.
Except for the final disbursement for completion of the Rehabilitation, the Retainage Amount must be retained in the Rehabilitation Escrow Fund.