Easily Hide Circle in the General Contract

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How to Hide Circle in the General Contract

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the big penguins and their big black mountains the ships are on 24-hour duty for the first job to secure all mooring lines big timbers sunk deep in the ice serve as anchors theyre called dead men in sea pollens perhaps because theyre buried slip toggles are rigged for quick release in case ice forces an emergency getaway unloading reconnaissance planes first next hauling equipment the marine corps weasels heavy duty caterpillars and trucks 40 and all here are no port facilities but the navy shows its self-sufficiency as it did throughout the war in operating at sea without bases or with improvised bases here are no docks or roads yet all freight aboard three heavily laden ships is hauled two miles over the ice up to little america dogs next a barking tugging boatload of huskies and the pups growing fatter and bigger every day all are happy with the welcome smell of snow in their nostrils this is home this is fun but this is work too for a time is short the dogs must haul their share

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When should you bill for retainage?

Also called retention, retainage is a percentage of a contract, often 5-10%, that cant be billed until the entire project is complete and the client has approved the work. Its purpose is to give the client recourse if they arent satisfied with the work.

What is retention retainage?

What is the Difference Between Retention and Retainage? While these terms are used interchangeably, there is a difference between retention and retainage. Retention is the actual holding of the funds agrees upon in the contract, while retainage is the amount of those funds that are being held.

What is the difference between retention and retainage?

What is the Difference Between Retention and Retainage? While these terms are used interchangeably, there is a difference between retention and retainage. Retention is the actual holding of the funds agrees upon in the contract, while retainage is the amount of those funds that are being held.

What does retention mean in construction?

A construction retention payment (also called retainage) is the amount of money held back until the project is complete. Retainage is usually a percentage of the total project cost. It typically sits at 5% or 10%.

What does 10% retention mean?

So on a $100,000 contract with 10% retainage, the contractor doesnt have to fork over ten grand at the beginning. Instead, the contractor will deduct the retainage from each payment application. If that contract is paid out over 10 progress payments, $1,000 would be held in retention from each one.

What is the traditional percentage used for owner retainage?

The percentage of retainage withheld is sometimes fixed and sometimes a matter of agreement, but is most commonly set between 5% and 10% of the total approved funds.

What is the difference between retainage and retention bond?

Retainage represents some security that, if a project goes sideways, theres a pile of funds to help smooth things over. A retention bond does the same thing, but without withholding funds from progress payments.

What does retainage mean in a contract?

Retainage is the withholding of a portion of the final payment for a defined period to assure a contractor or subcontractor has finished a construction project completely and correctly.

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