Common use of Progress Payments; Retainage Clause in Contracts

Progress Payments; Retainage. A. NBU shall make progress payments on account of the Contract Price on the basis of the Contractor’s Applications for Payment within 30 days of NBU’s acceptance of the payment application: 1. Prior to Substantial Completion, NBU shall make progress payments in an amount equal to the percentage indicated below but, in each case, less the aggregate of payments previously made and less such amounts as the Engineer may determine or NBU may withhold, including but not limited to damages, in accordance with Section 14.02 of the General Conditions: a. 95% (percent) of Work completed.

Progress Payments; Retainage. A. NBU shall make progress payments on account of the Contract Price on the basis of the Contractor’s Applications for Payment within 30 days of NBU’s acceptance of the payment application: 1. Prior to Substantial Completion, NBU shall make progress payments in an amount equal to the percentage indicated below but, in each case, less the aggregate of payments previously made and less such amounts as the Engineer may determine or NBU may withhold, including but not limited to liquidated damages, in accordance with Section 14.02 of the General Conditions: a. 95% (percent) of Work completed.Section

Progress Payments; Retainage. A. NBU Owner shall make progress payments on account of the Contract Price on the basis of the Contractor’s Applications for Payment within 30 30-days of NBU’s acceptance of the payment application: 1. Prior to Substantial Completion, NBU shall make progress payments will be made in an amount equal to the percentage indicated below but, in each case, less the aggregate of payments previously made and less such amounts as the Engineer may determine or NBU Owner may withhold, including but not limited to liquidated damages, in accordance with Section Paragraph 14.02 of the General Conditions: a. 95% (percent) of Work completed.

Progress Payments; Retainage. A. NBU The Owner shall make progress payments on account of the Contract Price on the basis of the Contractor’s Applications for Payment within 30 30-days of NBU’s acceptance of the payment application: 1. Prior to Substantial Completion, NBU shall make progress payments will be made in an amount equal to the percentage indicated below but, in each case, less the aggregate of payments previously made and less such amounts as the Engineer may determine or NBU the Owner may withhold, including but not limited to set-offs and other damages, in accordance with Section Paragraph 14.02 of the General Conditions: a. 95% (percent) of Work completed.

Progress Payments; Retainage. A. NBU Owner shall make progress payments on account of the Contract Price on the basis of the Contractor’s Applications for Payment within 30 30-days of NBU’s acceptance of the payment application: 1. Prior to Substantial Completion, NBU shall make progress payments will be made in an amount equal to the percentage indicated below but, in each case, less the aggregate of payments previously made and less such amounts as the Engineer may determine or NBU Owner may withhold, including but not limited to damages, in accordance with Section Paragraph 14.02 of the General Conditions: a. 95% (percent) of Work completed.