Fixed Price Contracts. Princeton University shall retain an amount equal to ten percent (10%) of the full amount that Contractor seeks to be paid as set forth in each Application for Payment submitted in accordance with paragraph (d) above (“Retainage”). 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.
Appears in 12 contracts
Samples: Construction Management GMP Contract, Construction Fixed Price Contract, Cost Plus Fixed Fee Contract
