Financial & invoicing terms explained
Retainage
Retainage (retention) holds a percentage of each progress payment until punch list and warranty items close.
Billing
Show retainage held and released each period on progress invoices.
Release
Contracts define release milestones - invoice releases separately from progress.
Cash flow
Model retainage when forecasting - late releases strain subcontractors.
Retainage - FAQ
Retainage release?+
Contract defines milestones - invoice releases separately.
Tax on retainage?+
Follow local construction tax guidance.
Disputes?+
Document punch list completion before final release.