Common use of Progress Payments; Retainage Clause in Contracts

Progress Payments; Retainage. A. Owner shall make progress payments on the basis of Contractor’s Applications for Payment, which shall be due on or about the 25th day of each month, during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, 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 Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety-five percent (95%) of the value of the Work completed (with the balance being retainage). b. Ninety-five percent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five percent (95%)of the Work completed, less such amounts set off by Owner pursuant to Paragraph 15.01.E of the General Conditions, and less two hundred percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch list of items to be completed or corrected prior to final payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment, which shall be due Payment on or about the 25th first day of each month, month during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, 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 Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety-five 95% percent (95%) of the value of the Work completed (with the balance being retainage). ) and b. Ninety-five 95% percent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five percent (95%)of 97% of the Work completed, less such amounts set off by Owner pursuant to Paragraph 15.01.E of the General Conditions, and less two hundred percent (200%) % of Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch list of items to be completed or corrected prior to final payment.

Progress Payments; Retainage. A. Owner shall make progress payments on the basis of Contractor’s Applications for Payment, which shall be due Payment on or about the 25th day of each month, month monthly during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, 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 Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety-five percent (95%) of the value of the Work completed (with the balance being retainage). b. Ninety-five percent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five percent (95%)of of the Work completed, less such amounts set off by Owner pursuant to Paragraph 15.01.E of the General Conditions, and less two one hundred percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch list of items to be completed or corrected prior to final payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment, which shall be due on or about the 25th day of each month, during performance of the Work Payment as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule schedule of Values values established as provided in Paragraph 2.07.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule schedule of Valuesvalues, as provided elsewhere in the ContractGeneral Requirements. 1. Prior to Substantial Completion, 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 Engineer may determine or Owner may withhold, including but not limited to liquidated damages, in accordance with Paragraph 14.02 of the ContractGeneral Conditions. a. Ninety-five 90 percent (95%) of the value of the Work completed (with the balance being retainage). b. Ninety-five percent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five 100 percent (95%)of of the Work completed, less such amounts set off by Owner pursuant to as Engineer shall determine in accordance with Paragraph 15.01.E 14.02.B.5 of the General Conditions, Conditions and less two hundred 200 percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch tentative list of items to be completed or corrected prior attached to final paymentthe certificate of Substantial Completion.

Progress Payments; Retainage. A. Owner shall make progress payments on the basis of Contractor’s Applications for Payment, which shall be due Payment on or about the 25th [ordinal number, such as 5th] day of each month, month during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, 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 Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety-five 95 percent (95%) of the value of the Work completed (with the balance being retainage). b. Ninety-five 95 percent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five [number] percent (95%)of of the Work completed, less such amounts set off by Owner pursuant to Paragraph 15.01.E of the General Conditions, and less two hundred [number] percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch list of items to be completed or corrected prior to final payment.

Progress Payments; Retainage. A. Owner shall make progress payments on the basis of Contractor’s Applications for Payment, which shall be due Payment on or about the 25th 30th day of each month, month during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, 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 Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety-five 80 percent (95%) of the value of the Work completed (with the remaining balance being held as further defined below): i) Five (5) percent of the remaining withheld balance will be held as retainage). ii) Fifteen (15) percent of the remaining withheld balance will be held as a cash security deposit in lieu the receipt of a Performance and Payment Bond from Contractor. b. Ninety-five 95 percent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five 97.5 percent (95%)of of the Work completed, less such amounts set off by Owner pursuant to Paragraph 15.01.E of the General Conditions, and less two hundred 100 percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch list of items to be completed or corrected prior to final payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment, which shall be due on or about the 25th day of each month, during performance Payment as recommended by Engineer and as otherwise specified in Paragraph 14.02 of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the ContractGeneral Conditions. All such payments will be measured by the Schedule schedule of Values values established as provided in Paragraph 2.05.A of the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule schedule of Valuesvalues, as provided elsewhere in the ContractGeneral Requirements. 1. B. Prior to Substantial Completion, progress payments will be made in an amount equal to 90% percent of Work completed (with the percentage indicated below balance being retainage), but, in each case, less the aggregate of payments previously made and less such amounts as Engineer may determine or Owner may withhold, including but not limited to liquidated damages, in accordance with Paragraph 14.02 of the ContractGeneral Conditions. a. Ninety-five percent (95%) of the value of the Work completed (with the balance being retainage). b. Ninety-five percent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). B. C. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five 95% percent (95%)of of the Work completed, less such amounts set off by Owner pursuant to as Engineer shall determine in accordance with Paragraph 15.01.E 14.02.B.5 of the General Conditions, Conditions and less two hundred percent (200%) 100%percent of EngineerOwner’s estimate determination of the value of Work to be completed or corrected as shown on the punch tentative list of items to be completed or corrected prior attached to final the certificate of Substantial Completion. D. All applications for progress payments shall be accompanied by a conditional lien release and, for payments after the first, an affidavit of payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment, which shall be due Payment on or about the 25th _1st (first)_ day of each month, month during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, 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 Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety-five Ninety (90) percent (95%) of the value of the Work completed (with the balance being retainage)., and b. Ninety-five Ninety (90) percent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). B. Upon Substantial CompletionCompletion of the entire Work to be provided under the Contact Documents, Owner shall pay an amount sufficient to increase total payments to Contractor to ninetyNinety-five eight (98) percent (95%)of of the Work completed, less such amounts set off by Owner pursuant to Paragraph 15.01.E of the Standard General Conditions, and less two hundred Two (2) percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch list of items to be completed or corrected prior to final payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment, which shall be due Payment on or about the 25th 1st day of each month, month during performance of the Work as provided in Paragraph 6.02.A.1 5.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, 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 Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety-Ninety five percent (95%95.%) of the value of the Work completed (with the balance being retainage).; and b. Ninety-Ninety five percent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). B. Upon Substantial CompletionCompletion of the entire construction to be provided under the Contract Documents, Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five one hundred percent (95%)of 100%) of the Work completed, less such amounts set off by Owner pursuant to Paragraph 15.01.E of the General Conditions, and less two hundred percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch list of items to be completed or corrected prior to final payment.

Progress Payments; Retainage. A. Owner shall make progress payments on account of the Contract Price on the basis of Contractor’s Applications for Payment, which shall be due on or about Payment upon receipt of payment from the 25th day Department of each month, Water Resources during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. The expected timeframe for the contractor to receive payment is 120 days. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, 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 Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety-five 95 percent (95%) of the value of the Work completed (with the balance being retainage). b. Ninety-five 95 percent (95%) of cost of materials and equipment not incorporated in the Work that has been approved and paid for as Materials On Hand (with the balance being retainage). B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five 100 percent (95%)of of the Work completed, less such amounts set off by Owner pursuant to Paragraph 15.01.E of the General Conditions, and less two hundred 200 percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch list of items to be completed or corrected prior to final payment.

Progress Payments; Retainage. A. Owner shall make progress payments on the basis of Contractor’s 's Applications for Payment, which shall be due Payment on or about the 25th 15th day of each month, month during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in I the General Conditions (and in the case of Unit Price Work based on the number of units unites completed) or, in the event there is no Schedule of Values, as provided proved elsewhere in the Contract. 1. Prior to Substantial Completion, 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 Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety-five 95 percent (95%) of the value of the Work completed (with the balance being retainage). b. Ninety-five 95 percent (95%) of cost of stored materials and equipment not incorporated in the Work (with the balance being retainage). B. Upon Substantial CompletionCompletion of the entire construction to be provided under the construction Contract Documents, Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five 95 percent (95%)of of the Work completed, less such amounts set off by Owner pursuant to Paragraph 15.01.E of the General Conditions, and less two hundred 100 percent (200%) of the Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch list of items to be completed or corrected prior to final payment.

Progress Payments; Retainage. A. Owner shall make progress payments on the basis of Contractor’s Applications for Payment, which shall be due Payment on or about the 25th day of each month, month during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, 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 Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety-five percent (95%) of the value of the Work completed (with the balance being retainage). b. Ninety-five percent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). B. Upon Substantial Completion, Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five one hundred percent (95%)of of the Work completed, less such amounts set off by Owner pursuant to Paragraph 15.01.E of the General Conditions, and less two hundred percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch list of items to be completed or corrected prior to final payment.

Progress Payments; Retainage. A. Owner shall make progress payments on the basis of Contractor’s Applications for Payment, which shall be due Payment on or about the 25th [ordinal number, such as 5th] day of each month, month during performance of the Work as provided in Paragraph 6.02.A.1 below, provided that such Applications for Payment have been submitted in a timely manner and otherwise meet the requirements of the Contract. All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract. 1. Prior to Substantial Completion, 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 Owner may withhold, including but not limited to liquidated damages, in accordance with the Contract. a. Ninety-five 95 percent (95%) of the value of the Work completed (with the balance being retainage). 1) Deleted b. Ninety-five 95 percent (95%) of cost of materials and equipment not incorporated in the Work (with the balance being retainage). Notes to Users—Typical values used in Paragraph 6.02.B are 100 percent and 200 percent respectively, subject to Laws and Regulations specific to the Project. B. Upon Substantial CompletionCompletion of the entire construction to be provided under the construction Contract Documents , Owner shall pay an amount sufficient to increase total payments to Contractor to ninety-five [number] percent (95%)of of the Work completed, less such amounts set off by Owner pursuant to Paragraph 15.01.E of the General Conditions, and less two hundred [number] percent (200%) of Engineer’s estimate of the value of Work to be completed or corrected as shown on the punch list of items to be completed or corrected prior to final payment.