Retainage Amounts: Second Invoice

When you process the second invoice, the total for the amounts on which the system would calculate retainage is 4,907.00 USD. Combined with the 63,800.00 USD from the prior invoice, the total invoiced amount for cost and award fees is 68,707.00 USD. This amount is still less than 89,250.00 USD, so no retainage is calculated for this invoice. Note that even though the award fee amount for this invoice is 100 percent of the award fee limit amount in the contract, the system does not calculate retainage on this amount because it uses the total of the award fee amount and the cost amount to determine whether retainage should be calculated.