Retention Vs Retainage at Zachary Harman blog

Retention Vs Retainage. Retention, also called retainage, is money held back from each payment to ensure that a contractor or subcontractor completes a project. Retainage has a long history in the industry and can apply to both general and subcontractors. This is a very unique practice. Retainage is withheld from each progressive payment. It ensures a contractor will complete a project to the agreed specifications. Retainage, also called “retention,” is an amount of money “held back” from a contractor or subcontractor during the term of a construction project. Contract retention acts as a warranty for property owners. Retainage refers to the practice of withholding a percentage of a construction contract’s total amount from a contractor or. While retainage refers directly to the sum of money withheld, retention is more about the process of withholding that money. It provides a financial incentive to ensure that the work is of appropriate quality and meets the plans and specifications. In construction, the terms retention and retainage are mostly used interchangeably. In construction, contract retention (or retainage) is a percentage of a contractor’s fee that’s held until they finish a project.

Gross Retention vs Net Retention What’s the Difference and How To
from rentechdigital.com

It ensures a contractor will complete a project to the agreed specifications. This is a very unique practice. Retainage has a long history in the industry and can apply to both general and subcontractors. In construction, contract retention (or retainage) is a percentage of a contractor’s fee that’s held until they finish a project. While retainage refers directly to the sum of money withheld, retention is more about the process of withholding that money. Retention, also called retainage, is money held back from each payment to ensure that a contractor or subcontractor completes a project. It provides a financial incentive to ensure that the work is of appropriate quality and meets the plans and specifications. Retainage, also called “retention,” is an amount of money “held back” from a contractor or subcontractor during the term of a construction project. Contract retention acts as a warranty for property owners. In construction, the terms retention and retainage are mostly used interchangeably.

Gross Retention vs Net Retention What’s the Difference and How To

Retention Vs Retainage Retainage refers to the practice of withholding a percentage of a construction contract’s total amount from a contractor or. It ensures a contractor will complete a project to the agreed specifications. This is a very unique practice. Retainage refers to the practice of withholding a percentage of a construction contract’s total amount from a contractor or. Retainage has a long history in the industry and can apply to both general and subcontractors. Retainage is withheld from each progressive payment. Retainage, also called “retention,” is an amount of money “held back” from a contractor or subcontractor during the term of a construction project. In construction, the terms retention and retainage are mostly used interchangeably. It provides a financial incentive to ensure that the work is of appropriate quality and meets the plans and specifications. In construction, contract retention (or retainage) is a percentage of a contractor’s fee that’s held until they finish a project. Contract retention acts as a warranty for property owners. While retainage refers directly to the sum of money withheld, retention is more about the process of withholding that money. Retention, also called retainage, is money held back from each payment to ensure that a contractor or subcontractor completes a project.

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