Common use of WITHHOLDING/RETAINAGE Clause in Contracts

WITHHOLDING/RETAINAGE. Agency reserves the right to initiate, at any time during the Contract, withholding of payment equal to 5% of the amount of each invoice submitted to Agency under the Contract. Agency will make final payment of any balance due to Contractor promptly upon verification of completion and acceptance of all Services by Agency and will pay interest as required on retainage.

WITHHOLDING/RETAINAGE. Agency reserves the right to initiate, at any time during the Contract, withholding of payment equal to 5% of the amount of each invoice submitted to Agency under the Contract. Agency will make final payment of any balance due to Contractor Consultant promptly upon verification of completion and acceptance of all Services by Agency and will pay interest as required on retainage.

WITHHOLDING/RETAINAGE. Agency reserves the right to initiate, at any time during the Work Order Contract, withholding of payment equal to 5% of the amount of each invoice submitted to Agency under the Work Order Contract. Agency will make final payment of any balance due to Contractor promptly upon verification of completion and acceptance of all Services by Agency and will pay interest as required on retainage.

WITHHOLDING/RETAINAGE. Agency reserves the right to initiate, at any time during the Contract, withholding of payment equal to 510% of the amount of each invoice submitted to Agency under the Contract. Agency will make final payment of any balance due to Contractor promptly upon verification of completion and acceptance of all Services by Agency and will pay interest as required on retainage.

WITHHOLDING/RETAINAGE. Agency reserves the right to initiate, at any time during the Contract, withholding of payment equal to 5% of the amount of each invoice submitted to Agency under the Contract. Agency will make final payment of any balance due to Contractor Consultant promptly upon verification of completion and acceptance of all Services by Agency and will pay interest as if required on retainage.