Common use of Exclusion of Retention Clause in Contracts

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.

Exclusion of Retention. A. In conformance with 49 CFR 26.29(b)(126.29 (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(b7200 (b), in subcontracts Subcontracts between Contractor and a Subcontractor and in subcontracts between a Subcontractor and any other Subcontractor thereunderof any tier, 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 of the provisions of this clauseSection 23.

Exclusion of Retention. A. In conformance with 49 CFR 26.29(b)(126.29 (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 other Subcontractor thereunderof any tier, 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 of the provisions of this clauseSection 23.