Performance Retention Clause Samples
The Performance Retention clause establishes requirements for maintaining a certain level of performance or quality over a specified period, often as a condition for full payment or contract completion. Typically, a portion of payment may be withheld until the contractor or service provider demonstrates that agreed-upon standards are consistently met, such as in construction projects where a retention sum is released after a defect liability period. This clause ensures that the party responsible for delivering goods or services remains accountable for their quality and performance, thereby protecting the interests of the party receiving them and incentivizing proper completion of contractual obligations.
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Performance Retention. Owner shall retain five percent (5%) of all progress payments as part security for fulfillment of the Contract. In any contract between Design-Builder and a subcontractor, the percentage of the retention proceeds withheld may not exceed the percentage specified in this Contract between Owner and Design-Builder. Within forty-five (45) days after successful completion of the Initial Acceptance Test by Design- Builder, Owner shall release to owner one half (1/2) of the performance retention. The remaining performance retention shall be held by Owner until after successful completion by Design- Builder of the Final Acceptance Test (see Attachment F, Section 3.0). This section shall not be construed to limit the ability of Owner to withhold 150 percent of the value of any disputed amount of Work from the final payment as provided for in subdivision (c) of Section 7107 of the Public Contract Code. Nothing in this section shall be construed to require Owner to pay for work that is not approved or accepted in accordance with the Contract Documents.
Performance Retention. The Owner shall retain five percent (5%) of all progress payments as part security for fulfillment of the Contract. In any contract between CONTRACTOR and a subcontractor the percentage of the retention proceeds withheld may not exceed the percentage specified in this Contract between Owner and CONTRACTOR. This Section shall not be construed to limit the ability of the District to withhold 150 percent of the value of any disputed amount of Work from the final payment, as provided for in subdivision (c) of Section 7107 of the Public Contract Code. Nothing in this section shall be construed to require the Owner to pay for work that is not approved or accepted in accordance with the Contract Documents.
Performance Retention. The District shall retain five percent (5%) of all lease payments as part security for fulfillment of the Contract. In any contract between Contractor and a subcontractor the percentage of the retention proceeds withheld may not exceed the percentage specified in this Contract between the District and Contractor. This Section shall not be construed to limit the ability of the District to withhold 150 percent of the value of any disputed amount of Work from the final payment, as provided for in subdivision (c) of Section 7107 of the Public Contract Code. Nothing in this section shall be construed to require the District to pay for work that is not approved or accepted in accordance with the Contract.
Performance Retention. The CDFG or CBDA may withhold, from the invoiced payment amount to the Grantee, an amount equal to ten percent (10%) of that payment. Payments prior to satisfactory completion of all work required by the agreement shall not exceed, in the aggregate, ninety percent (90%) of the total earned with the balance to be paid upon satisfactory completion of the agreement. The State shall retain from the Grantee's earnings for each period for which payment is made an amount equal to ten percent (10%) of such earnings, pending satisfactory completion and acceptance by the ERP Grant Manager of all deliverables and the completion of the agreement. In turn, the Grantee agrees to retain from its subcontractor’s earnings for each period for which payment is made an amount equal to ten percent (10%) of such earnings, pending satisfactory completion and acceptance by the ERP Grant Manager of all deliverables specified in Scope of Work and List of Deliverables listed in the subcontract .
Performance Retention of the combined CRJ200 fleet specific air range ***, shall not be worse than that specified in the guarantee set forth below. A ***, as detailed in Appendix A, will be used by the Buyer *** and to ***.