Common use of Subcontractor’s Retainage Release Clause in Contracts

Subcontractor’s Retainage Release. At the discretion of the Owner and request by Contractor, an amount equal to the subcontract retainage of a Subcontractor may be separately released from the retainage held by the Owner as he completes his work. An application in accordance with the Owner’s specimen (See Section 7, Forms) for release of a Subcontractor's retainage shall contain a release of all claims by the Subcontractor and shall bear the original certificates of the Subcontractor, the Contractor, and the Design Professional that the Subcontractor's work has been fully performed and that the sum for which payment is requested is due by the Contractor to the Subcontractor. Checks releasing a Subcontractor's retainage shall be made payable to the Contractor, the Contractor’s surety, and the Subcontractor and shall be mailed to the Contractor’s surety. This article does not create any contractual relationship between the Owner and the Subcontractor or any duty of the Owner to any Subcontractor.

Subcontractor’s Retainage Release. At the discretion of the Owner and request by Contractor, an amount equal to the subcontract retainage of a Subcontractor may be separately released from the retainage held by the Owner as he completes his work. An application in accordance with the Owner’s specimen form (See Section 7, Formsa copy of which will be provided upon request) for release of a Subcontractor's retainage shall contain a release of all claims by the Subcontractor and shall bear the original certificates of the Subcontractor, the Contractor, and the Design Professional that the Subcontractor's work has been fully performed and that the sum for which payment is requested is due by the Contractor to the Subcontractor. Checks releasing a Subcontractor's retainage shall be made payable to the Contractor, the Contractor’s surety, and the Subcontractor and shall be mailed to the Contractor’s surety. This article does not create any contractual relationship between the Owner and the Subcontractor or any duty of the Owner to any Subcontractor.

Subcontractor’s Retainage Release. At the discretion of the Owner and Upon request by Contractorthe Design-Builder, Owner may, but is not required, to permit an amount equal to the subcontract retainage of a Subcontractor may to be separately released from the retainage held by the Owner as he completes his work. An application in accordance with the Owner’s specimen form (See Section 7, Forms) for release of a Subcontractor's retainage shall contain a release of all claims by the Subcontractor and shall bear the original certificates of the Subcontractor, the ContractorDesign-Builder, and the Design Professional Program Manager that the Subcontractor's work has been fully performed and that the sum for which payment is requested is due by the Contractor Design-Builder to the Subcontractor. Before receiving any portion of the retainage the Design-Builder will be required to furnish a non-influence affidavit and a statutory affidavit executed by the Subcontrator in the exact form as shown in Section 7. Checks releasing a Subcontractor's retainage shall be made payable to the ContractorDesign-Builder, the ContractorDesign-Builder’s surety, and the Subcontractor and shall be mailed to the ContractorDesign-Builder’s surety. This article does not create any contractual relationship between the Owner and the Subcontractor or any duty of the Owner to any Subcontractor.

Subcontractor’s Retainage Release. At the discretion of the Owner and request by Contractor, an amount equal to the subcontract retainage of a Subcontractor may be separately released from the retainage held by the Owner as he completes his work. An application in accordance with the Owner’s Owner‟s specimen form (See Section 7, Formsa copy of which will be provided upon request) for release of a Subcontractor's retainage shall contain a release of all claims by the Subcontractor and shall bear the original certificates of the Subcontractor, the Contractor, and the Design Professional that the Subcontractor's work has been fully performed and that the sum for which payment is requested is due by the Contractor to the Subcontractor. Checks releasing a Subcontractor's retainage shall be made payable to the Contractor, the Contractor’s Contractor‟s surety, and the Subcontractor and shall be mailed to the Contractor’s Contractor‟s surety. This article Section does not create any contractual relationship between the Owner and the Subcontractor or any duty of the Owner to any Subcontractor.