Configuring Subcontract Retention

When choosing contract settings as a Head Contractor, use Contract Level Retention.

  1. Navigate to the Project Settings page.
  2. From the HC Project Information section of the Project Settings page, select Contract from the Project Retention Mode drop-down.
  3. Beneath the Project Retention Mode, enter the Stepped Retention values.
    1. (Optional) Select the Automatically release retention to automatically release retention held each time the contract value reaches a new retention rate trigger. The retention release occurs in the period following the time the contract reaches the retention trigger threshold.
    2. Enter the initial retention rate.
    3. Enter the percentage of the contract that must be completed to trigger the second retention rate.
    4. Enter the retention rate to be enforced after the contract reaches the trigger.
    5. Enter the percentage of the contract that must be completed to trigger the third retention rate.
    6. Enter the retention rate to be enforced after the contract reaches this second trigger.

      Note: If you choose to enter a Contract value for % complete, variations will not update the value in the system. If you leave the Contract value for % complete blank, the Contract Sum to Date is used to calculate retention, including any variations.

  4. If you need to modify the stepped retention for a specific Subcontractor, navigate to the Contract Maintenance page by creating a new contract.

    See Creating Subcontracts Manually for instructions.

    • The system displays the contract settings on the Contract Maintenance page.
    • Contracts must have the same retention mode as the project.

      For example: When the Project Retention Mode is selected on the Project Settings page, it is carried over to the Contract Maintenance page.
      See Choose Project Settings.

      By default, the stepped retention values are carried over from the Project Settings page or your accounting package, but can be changed on the Contract Maintenance page.

    1. (Optional) Select the Automatically release retention to automatically release retention held each time the contract value reaches a new retention rate trigger. The retention release occurs in the period following the time the contract reaches the retention trigger threshold.
    2. Enter the initial retention rate.
    3. Enter the percentage of the contract that must be completed to trigger the second retention rate.
    4. Enter the retention rate to be enforced after the contract reaches the trigger.
    5. Enter the percentage of the contract that must be completed to trigger the third retention rate.
    6. Enter the retention rate to be enforced after the contract reaches this second trigger.

Change Retention on an Existing Contract

Contact Oracle Support if you need to change previously held retention.