Contract Level Retention for Subcontractors
Contract Level Retention is a setting most often used for Australian projects. As a Subcontractor in North America, you will most likely use line item retention.
When the project uses Contract Level Retention, your Billing Workflow displays a Retention tab, regardless of whether or not you can bill for retention this period. The tab includes a summary of retention amounts:
- Held This Period: The amount held for the current draw.
- Held Percent This Period: The percentage held for the current draw.
- Held Previous: The total amount held in previous draws (minus any previously requested retention).
- Held to Date: The total amount held including the current draw.
- Request This Period: Any previously held retention requested in the current draw.
Last Published Wednesday, August 7, 2024