Common use of Withholding of Retainage; Conversion to Lump Sum Clause in Contracts

Withholding of Retainage; Conversion to Lump Sum. Retainage shall be withheld from each periodic payment to the Contractor in the amount of ten percent of the sum of the total amount earned for work–in-place (original Contract), total amount earned for work-in-place (Change Orders), and Value of Materials stored at the Site. After one-half of the Contract Sum, including Change Orders becomes due and the Work meets all of the following conditions: (a) On or ahead of the Overall Project Schedule; and (b) There are no breaches of Notices of Non-Compliant Work; and (c) There is no delinquency in the completion of work and filing of the final breakdown and accounting pursuant to any Change Orders utilizing a Force Account; Then, if the Contractor requests and the Design Professional approves in writing, the sum being withheld as retainage will be converted to a lump sum and held by the Owner until Material Completion.

Withholding of Retainage; Conversion to Lump Sum. Retainage shall be withheld from each periodic payment Application for Payment to the Contractor Design-Builder in the amount of ten percent of the sum of the total amount earned cost for work–inoriginal Contract Work, Change Order Work, materials stored on the Site and Design-place (original Contract), total amount earned for work-in-place (Change Orders), and Value of Materials stored at the SiteBuilder Fee earned. After one-half of the Contract Sum, including Change Orders Orders, becomes due and the Work meets all of the following conditions: (a) On or ahead of the Overall Project Schedule; and (b) There are no breaches of Notices of Non-Compliant Work; and (c) There is no delinquency in the completion of work and filing of the final breakdown and accounting pursuant to any Change Orders utilizing a Force Account; Thenthen, if the Contractor Design-Builder requests and the Design Professional Program Manager approves in writing, the sum being withheld as retainage will be converted to a lump sum and held by the Owner until Material Completion.

Withholding of Retainage; Conversion to Lump Sum. Retainage shall be withheld from each periodic payment Application for Payment to the Contractor Design-Builder in the amount of ten percent of the sum of the total amount earned cost for work–inoriginal Contract Work, Change Order Work, materials stored on the Site and Design-place (original Contract), total amount earned for work-in-place (Change Orders), and Value of Materials stored at the SiteBuilder Fee earned. After one-half of the Contract Sum, including Change Orders Orders, becomes due and the Work meets all of the following conditions: (a) On or ahead of the Overall Project Schedule; and (b) There are no breaches of Notices of Non-Compliant Work; and (c) There is no delinquency in the completion of work and filing of the final breakdown and accounting pursuant to any Change Orders utilizing a Force Account; Thenthen, if the Contractor Design-Builder requests and the Design Professional Executive Administrator approves in writing, the sum being withheld as retainage will be converted to a lump sum and held by the Owner until Material Completion.

Withholding of Retainage; Conversion to Lump Sum. Retainage shall be withheld from each periodic payment to the Contractor in the amount of ten percent of the sum of the total amount earned for work–in-place (original Contract), total amount earned for work-in-place (Change Orders), and Value of Materials stored at the Site. After one-half of the Contract Sum, including Change Orders Orders, becomes due and the Work meets all of the following conditions: (a) On or ahead of the Overall Project Schedule; and (b) There are no breaches of Notices of Non-Compliant Work; and (c) There is no delinquency in the completion of work and filing of the final breakdown and accounting pursuant to any Change Orders utilizing a Force Account; Thenthen, if the Contractor requests and the Design Professional approves in writing, the sum being withheld as retainage will be converted to a lump sum and held by the Owner until Material Completion.

Withholding of Retainage; Conversion to Lump Sum. Retainage shall be withheld from each periodic payment Application for Payment to the Contractor CM/GC in the amount of ten percent of the sum of the total amount earned cost for work–in-place (original Contract)Contract Work, total amount earned for work-in-place (Change Orders)Order Work, materials stored on the Site and Value of Materials stored at the SiteCM/GC Fee earned. After one-half of the Contract Sum, including Change Orders Orders, becomes due and the Work meets all of the following conditions: (a) On or ahead of the Overall Project Schedule; and (b) There are no unresolved breaches of Notices of Non-Compliant Work; and (c) There is no delinquency in the completion of work and filing of the final breakdown and accounting pursuant to any Change Orders utilizing a Force Account; Thenthen, if the Contractor CM/GC requests and the Design Professional approves in writing, the sum being withheld as retainage will be converted to a lump sum and held by the Owner until Material Completion.

Withholding of Retainage; Conversion to Lump Sum. Retainage shall be withheld from each periodic payment to the Contractor in the amount of ten percent of the sum of the total amount earned for work–in-place (original Contract), total amount earned for work-in-place (Change Orders), and Value of Materials stored at the Site. After one-half of the Contract Sum, including Change Orders Orders, becomes due and the Work meets all of the following conditions: (a) : On or ahead of the Overall Project Schedule; and (b) and There are no breaches of Notices of Non-Compliant Work; and (c) and There is no delinquency in the completion of work and filing of the final breakdown and accounting pursuant to any Change Orders utilizing a Force Account; Thenthen, if the Contractor requests and the Design Professional approves in writing, the sum being withheld as retainage will be converted to a lump sum and held by the Owner until Material Completion.