Overriding Component Level Retention on a Contract
To override component level retention on a contract:
- In the Cost Code Breakout/Schedule of Values (SoV) table, select the Retention tab.
- Select a component to edit.
The selected line displays in yellow.
- In the Override Retention column, enter a new retention rate.
- The value entered in the Override Retention column applies to any future invoices the Subcontractor submits. Retention does not update retroactively.
- (Optional) In the Default retention % field, enter a new number to update the default retention.
- Select the Save Changes button.
- A Status page confirms the contract has been saved.
- When the Subcontractor enters an invoice for the next draw, the application automatically calculates the retention against the rates you entered.
Last Published Wednesday, July 10, 2024