Exclusion of Retention Sample Clauses

Exclusion of Retention a. In conformance with 49 CFR, Part 26, Subpart B, Section 26.29 (b)(1), the retention of proceeds required by Public Contract Code (“PCC”), Section 10261 shall not apply. In conformance with PCC, Section 7200 (b), in subcontracts between the Construction Manager and a subcontractor and in subcontracts between a subcontractor and any subcontractor thereunder, retention proceeds shall not be withheld, and the exceptions provided in PCC 7200 (c), shall not apply. At the option of the Construction Manager, subcontractors may be required to furnish payment and performance bonds issued by an admitted surety insurer.
Sample 1Sample 2Sample 3See All (13)
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Exclusion of Retention. A. In conformance with 49 CFR 26.29(b)(1), the retention of proceeds required by Public Contract Code Section 10261 shall not apply.
Sample 1Sample 2See All (5)
Exclusion of Retention. A. In conformance with 49 CFR 26.29(b)(1), the retention of proceeds required by Public Contract Code Section 10261 shall not apply. B. In conformance with Public Contract Code Section 7200(b), in subcontracts between Contractor and a Subcontractor and in subcontracts between a Subcontractor and any Subcontractor thereunder, retention proceeds shall not be withheld, and the exceptions provided in Public Contract Code Section 7200(c), shall not apply. At the option of Contractor, Subcontractor(s) may be required to furnish payment and performance bonds issued by an admitted surety insurer. C. Any subcontract entered into as a result of this Agreement shall contain all the provisions of this clause.
Sample 1

Related to Exclusion of Retention

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