7 Things Contractors Need to Know About Retainage
Fieldwire
AUGUST 14, 2023
It’s fairly common, especially on commercial and public construction projects, and typically ranges from 5 - 10% of the total contract price. So on a $100,000 contract with 10% retainage, the contractor doesn’t have to fork over ten grand at the beginning. Instead, the contractor will deduct the retainage from each payment application.
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