Restore construction in a Retention Agreement - Online Editor

Restore construction in Retention Agreement easy with DocHub.

Need to rapidly restore construction in Retention Agreement? We've got you covered! With DocHub, you can do just what you need without downloading and installing any application. Use our solution on your mobile phone, desktop, or web browser to edit Retention Agreement anytime and anywhere. Our powerful solution delivers basic and advanced editing, annotating, and security measures suitable for individuals and small companies. Plus, we offer numerous tutorials and guides that help you master its features rapidly. Here's one of them!

How to restore construction in Retention Agreement without breaking a sweat:

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From the Dashboard, click New Document in the top left area, choose your Retention Agreement, and open it in our editor.
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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What is the purpose of retention in construction?

Retention is a percentage (often 5%) of the amount certified as due to the contractor on an interim certificate, that is deducted from the amount paid and retained by the client. The purpose of retention is to ensure that the contractor properly completes the activities required of them under the contract.

How long can most construction retentions be held up?

Retained money is usually withheld from all parties until the very, very end of the project. On average, that means that general contractors wait about 99 days to get withheld money, and subcontractors (who likely finish before the general contractor) wait an average of 167 days.

How do you account for retention in construction?

Retention payable is recorded by owners and general contractors and is the amount owing to contractors or subcontractors for retention. Since these funds arent due until the project is completed, they are recorded in a separate account on the general ledger.

What is retention in a construction contract?

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 retention mean in a contract?

Often used in the construction industry, retention is a fixed percentage of the total payment due for a contract, withheld for a period after the work is completed.

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Restore construction in the Retention Agreement in a few clicks

Restore construction in Retention Agreement easy with DocHub.

How to restore construction in Retention Agreement without breaking a sweat:

PDF editing simplified with DocHub

Drive efficiency with the DocHub add-on for Google Workspace

Got questions?

What is the purpose of retention in construction?

How long can most construction retentions be held up?

How do you account for retention in construction?

What is retention in a construction contract?

What does retention mean in a contract?

See why our customers choose DocHub

Edit and sign PDF for free

Try more PDF tools

Restore construction in the Retention Agreement in a few clicks

Restore construction in Retention Agreement easy with DocHub.

How to restore construction in Retention Agreement without breaking a sweat:

PDF editing simplified with DocHub

Drive efficiency with the DocHub add-on for Google Workspace

Related features

Got questions?

What is the purpose of retention in construction?

How long can most construction retentions be held up?

How do you account for retention in construction?

What is retention in a construction contract?

What does retention mean in a contract?

See why our customers choose DocHub

Edit and sign PDF for free

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