GMP Contracts and Cost Plus Fixed Fee Contracts. Princeton University shall retain an amount equal to ten percent (10%) of the Cost of the Work and Contractor’s Fee set forth in each Application for Payment submitted in accordance with paragraph (d) (“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: Part I Agreement, Basic Ordering Agreement, Part I Agreement
