Common use of Progress Payments and Retainage Clause in Contracts

Progress Payments and Retainage. The County will make monthly progress payments to the Contractor upon written application by the Contractor, on the basis of a written estimate of the work performed during the preceding calendar month as approved by the Project Officer. However, 5% of each progress payment will be retained by the County until Final Completion and acceptance of all Work covered by the Agreement. All material and work covered by partial payments will become the property solely of the County at the time the partial payment is made. However, the Contractor will have the sole responsibility, care and custody for all materials and work upon which payments have been made until Substantial Completion. When calculating payment for materials on-site, the County shall not pay for materials which are not scheduled for incorporation into the Work within sixty (60) days from the date of application for payment.

Progress Payments and Retainage. The County will make monthly progress or partial payments to the Contractor upon written application by the Contractor, on the basis of a written estimate an estimate, provided by the Contractor and approved by the Project Officer, of the all work performed during the preceding calendar month as approved by to the satisfaction of the Project Officer. However, 5% of each progress payment will be retained by the County until Final Completion and acceptance of all Work covered by the Agreement. All material and work covered by partial payments will become the property solely of the County at the time the partial payment is made. However, the Contractor will have the sole responsibility, care and custody for all materials and work upon which payments have been made until Substantial CompletionFinal Acceptance. When calculating payment for materials on-site, the County shall not pay for materials which are not scheduled for incorporation into the Work within sixty (60) days from the date of application for payment.

Progress Payments and Retainage. The County will make monthly progress payments to the Contractor upon written application by the Contractor, on the basis of a written estimate of the work Work performed during the preceding calendar month as approved by the Project Officer. However, Five Percent (5% %) of each progress payment will be retained by the County until Final Completion and acceptance of all Work covered by the Agreement. All material and work Work covered by partial payments will become the property solely of the County at the time the partial payment is made. However, the Contractor will have the sole responsibility, care and custody for all materials and work Work upon which payments have been made until Substantial Completion. When calculating payment for materials on-site, the County shall not pay for materials which are not scheduled for incorporation into the Work within sixty Sixty (60) days from the date of application for payment.