QUESTION 6 The following can be said about "retainage" Construction contracts usually allow the owner to retain a percen

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answerhappygod
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QUESTION 6 The following can be said about "retainage" Construction contracts usually allow the owner to retain a percen

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QUESTION 6
The following can be said about "retainage"
Construction contracts usually allow the owner to retain a
percentage of each progress payment until the project is
completed
The retainage amount is usually reduced after the project
reaches a certain percentage of completion
Retainage provides the owner with sufficient funds to complete
the project in the event the contractor fails to do so
Retainage is necessary to force the contractor to complete the
work
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