Retainage means that portion of the purchase price of an Export Order that a Buyer is not obligated to pay until the end of a specified period of time following the satisfactory performance under such Export Order.
Retainage or “retained funds” means the amount withheld from a progress payment to a contractor pursuant to section 3.
Retainage means the difference between the amount earned by the Contractor on a GRDA Contract, with the work being accepted by the GRDA, and the amount paid on said Contract by the GRDA.
Examples of Retainage in a sentence
Retainage may be withheld from each payment to Grantee pending satisfactory completion of work and approval of all deliverables.
The Retainage Bond shall be in the amount of 4% of the Price, and is to be used as a guaranty for the protection of any claimants and TxDOT for overpayments, Liquidated Damages, and other deductions or damages owed by the Developer in connection with this Agreement.
Retainage shall be due and payable at the time any punch list work has been completed and approved by SOA and architect/engineer if applicable.
Retainage may be specified in an order in an amount mutually agreeable to the parties.
Retainage will be held until successful completion of the project.
More Definitions of Retainage
Retainage means the difference between the amount earned by the contractor on a public construction contract, with the work being accepted by the public agency, and the amount paid on said contract by the public agency.
Retainage means that money belonging to the Contractor which has been retained by the awarding authority conditioned upon final completion and acceptance of all work in connection with the Project.
Retainage means the part of the payments under a public work contract that are not required to be paid within the month after the month in which the public work labor is performed or public work material is delivered under the contract.
Retainage shall have the meaning set forth in Section 7.3.
Retainage means the quantity of gas, expressed as a percentage of receipt quantities, Shipper must provide Transporter (in addition to quantities Transporter will deliver to Shipper) for company-use, lost and unaccounted-for quantities under any of Transporter's Rate Schedules that refer to such term.
Retainage is an optional field and means the amount of the contract’s value that is retained.