Common use of Retention of Funds Clause in Contracts

Retention of Funds. A. Any subcontract entered into as a result of this Agreement shall contain all of the provisions of this Article. B. COUNTY will withhold the last ten percent (10%) of the budget for preparation of the final PS&E documents. The ten percent (10%) retainage is to be held after ninety percent (90%) of the PS&E phase has been billed and is not to be deducted from each invoice. The amount retained will be paid to CONSULTANT after COUNTY has approved CONSULTANT’s PS&E documents. The CONSULTANT, or subconsultant, shall return all monies withheld in retention from a subconsultant within thirty (30) days after receiving payment. Federal law (49 CFR 26.29) requires that any delay or postponement of payment over thirty (30) days may take place only for good cause and with the COUNTY’s prior written approval. Any violation of this provision shall subject the violating CONSULTANT or subconsultant to the penalties, sanctions and other remedies specified in Section 7108.5 of the Business and Professions Code. These requirements shall not be construed to limit or impair any contractual, administrative, or judicial remedies, otherwise available to the CONSULTANT or subconsultant in the event of a dispute involving late payment or nonpayment by the CONSULTANT, deficient subconsultant performance, or noncompliance by a subconsultant. This provision applies to both DBE and non-DBE prime consultant and subconsultants.

Retention of Funds. A. Any subcontract entered into as a result of this Agreement Contract shall contain all of the provisions of this Article. B. COUNTY will withhold the last ten 10 percent (10%) of the budget for preparation of the final PS&E documents. The ten 10 percent (10%) retainage is to be held after ninety percent (90%) % of the PS&E phase has been billed and is not to be deducted from each invoice. The amount retained will be paid to CONSULTANT after COUNTY has approved CONSULTANT’s PS&E documents. The CONSULTANT, or subconsultant, shall return all monies withheld in retention from a subconsultant within thirty (30) days after receiving payment. Federal law (49 CFR 26.29) requires that any delay or postponement of payment over thirty (30) days may take place only for good cause and with the COUNTY’s prior written approval. Any violation of this provision shall subject the violating CONSULTANT or subconsultant to the penalties, sanctions and other remedies specified in Section 7108.5 of the Business and Professions Code. These requirements shall not be construed to limit or impair any contractual, administrative, or judicial remedies, otherwise available to the CONSULTANT or subconsultant in the event of a dispute involving late payment or nonpayment by the CONSULTANT, deficient subconsultant performance, or noncompliance by a subconsultant. This provision applies to both DBE and non-DBE prime consultant and subconsultants.

Retention of Funds. A. Any subcontract entered into as a result of this Agreement Contract shall contain all of the provisions of this Article. B. COUNTY will withhold the last ten 10 percent (10%) of the budget for preparation of the any final PS&E documents. The ten 10 percent (10%) retainage is to be held after ninety percent (90%) % of the PS&E phase has been billed and is not to be deducted from each invoice. The amount retained will be paid to CONSULTANT after COUNTY has approved CONSULTANT’s PS&E documents. The CONSULTANT, or subconsultant, shall return all monies withheld in retention from a subconsultant within thirty (30) days after receiving payment. Federal law (49 CFR 26.29) requires that any delay or postponement of payment over thirty (30) days may take place only for good cause and with the COUNTY’s prior written approval. Any violation of this provision shall subject the violating CONSULTANT or subconsultant to the penalties, sanctions and other remedies specified in Section 7108.5 of the Business and Professions Code. These requirements shall not be construed to limit or impair any contractual, administrative, or judicial remedies, otherwise available to the CONSULTANT or subconsultant in the event of a dispute involving late payment or nonpayment by the CONSULTANT, deficient subconsultant performance, or noncompliance by a subconsultant. This provision applies to both DBE and non-DBE prime consultant and subconsultants.

Retention of Funds. 2 A. Any subcontract entered into as a result of this Agreement Contract shall contain all of the provisions of this Article. 3 B. COUNTY will withhold the last ten 10 percent (10%) of the budget for preparation of the final PS&E documents. The ten 10 4 percent (10%) retainage is to be held after ninety percent (90%) % of the PS&E phase has been billed and is not to be deducted from 5 each invoice. The amount retained will be paid to CONSULTANT after COUNTY has approved 6 CONSULTANT’s PS&E documents. The CONSULTANT, or subconsultant, shall return all monies withheld in 7 retention from a subconsultant within thirty (30) days after receiving payment. Federal law (49 CFR 26.29) 8 requires that any delay or postponement of payment over thirty (30) days may take place only for good cause 9 and with the COUNTY’s prior written approval. Any violation of this provision shall subject the violating 10 CONSULTANT or subconsultant to the penalties, sanctions and other remedies specified in Section 7108.5 of 11 the Business and Professions Code. These requirements shall not be construed to limit or impair any 12 contractual, administrative, or judicial remedies, otherwise available to the CONSULTANT or subconsultant in 13 the event of a dispute involving late payment or nonpayment by the CONSULTANT, deficient subconsultant 14 performance, or noncompliance by a subconsultant. This provision applies to both DBE and non-DBE prime 15 consultant and subconsultants.

Retention of Funds. 7 A. Any subcontract entered into as a result of this Agreement Contract shall contain all of the provisions of this Article. 8 B. COUNTY will withhold the last ten 10 percent (10%) of the budget for preparation of the any final PS&E documents. The ten 10 9 percent (10%) retainage is to be held after ninety percent (90%) % of the PS&E phase has been billed and is not to be deducted from 10 each invoice. The amount retained will be paid to CONSULTANT after COUNTY has approved 11 CONSULTANT’s PS&E documents. The CONSULTANT, or subconsultant, shall return all monies withheld in 12 retention from a subconsultant within thirty (30) days after receiving payment. Federal law (49 CFR 26.29) 13 requires that any delay or postponement of payment over thirty (30) days may take place only for good cause 14 and with the COUNTY’s prior written approval. Any violation of this provision shall subject the violating 15 CONSULTANT or subconsultant to the penalties, sanctions and other remedies specified in Section 7108.5 of 16 the Business and Professions Code. These requirements shall not be construed to limit or impair any 17 contractual, administrative, or judicial remedies, otherwise available to the CONSULTANT or subconsultant in 18 the event of a dispute involving late payment or nonpayment by the CONSULTANT, deficient subconsultant 19 performance, or noncompliance by a subconsultant. This provision applies to both DBE and non-DBE prime 20 consultant and subconsultants.

Retention of Funds. 8 A. Any subcontract entered into as a result of this Agreement Contract shall contain all of the provisions of this Article. 9 B. COUNTY will withhold the last ten 10 percent (10%) of the budget for preparation completion of the final PS&E documentswork. The ten 10 percent (10%) 10 retainage is to be held after ninety percent (90%) % of the PS&E phase work has been billed and is not to be deducted from each invoice. The 11 amount retained will be paid to CONSULTANT after COUNTY has approved CONSULTANT’s PS&E documentswork and other 12 documents required. The CONSULTANT, or subconsultant, shall return all monies withheld in retention from 13 a subconsultant within thirty (30) days after receiving payment. Federal law (49 CFR 26.29) requires that any 14 delay or postponement of payment over thirty (30) days may take place only for good cause and with the 15 COUNTY’s prior written approval. Any violation of this provision shall subject the violating CONSULTANT or 16 subconsultant to the penalties, sanctions and other remedies specified in Section 7108.5 of the Business and 17 Professions Code. These requirements shall not be construed to limit or impair any contractual, administrative, 18 or judicial remedies, otherwise available to the CONSULTANT or subconsultant in the event of a dispute 19 involving late payment or nonpayment by the CONSULTANT, deficient subconsultant performance, or 20 noncompliance by a subconsultant. This provision applies to both DBE and non-DBE prime consultant and 21 subconsultants.

Retention of Funds. 8 A. Any subcontract entered into as a result of this Agreement Contract shall contain all of the provisions of this Article. 9 B. COUNTY will withhold the last ten 10 percent (10%) of the budget for preparation of the any final PS&E documents. The ten 10 10 percent (10%) retainage is to be held after ninety percent (90%) % of the PS&E phase has been billed and is not to be deducted from 11 each invoice. The amount retained will be paid to CONSULTANT after COUNTY has approved 12 CONSULTANT’s PS&E documents. The CONSULTANT, or subconsultant, shall return all monies withheld in 13 retention from a subconsultant within thirty (30) days after receiving payment. Federal law (49 CFR 26.29) 14 requires that any delay or postponement of payment over thirty (30) days may take place only for good cause 15 and with the COUNTY’s prior written approval. Any violation of this provision shall subject the violating 16 CONSULTANT or subconsultant to the penalties, sanctions and other remedies specified in Section 7108.5 of 17 the Business and Professions Code. These requirements shall not be construed to limit or impair any 18 contractual, administrative, or judicial remedies, otherwise available to the CONSULTANT or subconsultant in 19 the event of a dispute involving late payment or nonpayment by the CONSULTANT, deficient subconsultant 20 performance, or noncompliance by a subconsultant. This provision applies to both DBE and non-DBE prime 21 consultant and subconsultants.