Retention. In accordance with Public Contract Code Section 9203, District shall not make progress payments in excess of ninety-five percent (95%) of the percentage of actual Work completed plus a like percentage of the value of material delivered. District shall withhold not less than five percent (5%) of the Contract Price until final completion and acceptance of the Work. Notwithstanding the foregoing, pursuant to Public Contract Code Section 7200, Contractor shall not withhold from any subcontractor retention in excess of the percentage withheld by District.
Appears in 55 contracts
Samples: Field Contract, Field Contract, Field Contract
Retention. In accordance with Public Contract Code Section 9203, District shall not make progress payments in excess of ninety-five percent (95%) of the percentage of actual Work work completed plus a like percentage of the value of material delivered. District shall withhold not less than five percent (5%) of the Contract Price until final completion and acceptance of the Workwork. Notwithstanding the foregoing, pursuant to Public Contract Code Section 7200, Contractor shall not withhold from any subcontractor retention in excess of the percentage withheld by District.
Appears in 45 contracts
Samples: Time and Materials Service Contract, Time and Materials Service Contract, Time and Materials Service Contract
