Partial and Final Payments. Partial payments will be made on or before the 20th of each month for 95% of the work done during the previous month, as estimated by the Engineer. The remaining 5% will be held by the City of Durham as Retainage. The Retainage amount will be increased on the monthly Pay Request only up to the point that 50% of the Project, based on cost, is complete. When the project is 50% complete, the owner shall not “retain any further retainage” from periodic payments due if:
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Samples: www.durhamnc.gov, www.durhamnc.gov, www.durhamnc.gov
