Retainage on Progress Payments. 7.3.1 Design-Builder will retain from each of Design-Build Subcontractor’s Application for Payment five percent (5.00%). Unless mutually agreed otherwise between the parties, retainage will be included in Design-Builder’s final payment to Design-Build Subcontractor, provided Design-Builder has received such retained amounts from Owner.
Appears in 4 contracts
Sources: Standard Form of Agreement Between Design Builder and Design Build Subcontractor Lump Sum, Design Build Subcontract Agreement, Standard Form of Agreement Between Design Builder and Design Build Subcontractor