RETAINED PERCENTAGE. 21.1 If this Contract requires one hundred (100%) percent performance and payment security, then as further security for the faithful performance of this Contract, the Commissioner shall deduct, and retain until the substantial completion of the Work, five (5%) percent of the value of Work certified for payment in each partial payment voucher.
Appears in 10 contracts
Samples: Construction Contract, a856-cityrecord.nyc.gov, a856-cityrecord.nyc.gov
RETAINED PERCENTAGE. 21.1 21.1. If this Contract requires one hundred (100%) percent performance and payment security, then as further security for the faithful performance of this Contract, the Commissioner shall deduct, and retain until the substantial completion of the Work, five (5%) percent of the value of Work certified for payment in each partial payment voucher.
Appears in 10 contracts
Samples: Supply and Service Agreement, Supply and Service Agreement, a856-cityrecord.nyc.gov
RETAINED PERCENTAGE. 21.1 54.1. If this Contract requires one hundred (100%) percent performance and payment security, then as further security for the faithful performance of this Contract, the Commissioner shall deduct, and retain until the substantial completion of the Work, five (5%) percent of the value of Work certified for payment in each partial payment voucher.
Appears in 8 contracts
Samples: a856-cityrecord.nyc.gov, a856-cityrecord.nyc.gov, a856-cityrecord.nyc.gov
RETAINED PERCENTAGE. 21.1 If this Contract requires one hundred (100%) percent performance and payment security, then as 54.1. As further security for the faithful performance of this Contract, the Commissioner shall deduct, and retain until the substantial completion of the Work, five (5%) percent a percentage of the value of Work certified for payment in each partial payment voucher.. The percentage to be retained is set forth in Schedule A.
Appears in 5 contracts
Samples: Furnish and Install Agreement, a856-cityrecord.nyc.gov, a856-cityrecord.nyc.gov
RETAINED PERCENTAGE. 21.1 If this Contract requires one hundred (100%) percent performance and payment security, then as 54.1. As further security for the faithful performance of this Contract, the Commissioner shall deduct, and retain until the substantial completion Final Acceptance of the Work, five (5%) percent a percentage of the value of Work certified for payment in each partial payment voucher.. The percentage to be retained is set forth in Schedule A.
Appears in 1 contract
Samples: Furnish and Install Agreement
