Release of Retainage. 1. At 75% completion of the Project. When the Commission Representative determines that the Design-Builder has satisfactorily completed 75% of the Project, based upon invoice sums approved and due the Design-Builder, Retainage will be reduced to an amount equal to three percent (3%) of the Contract Price including approved Change Orders.
Appears in 3 contracts
Sources: Design Build Agreement, Design Build Agreement, Design Build Agreement