Retainage Release
Retainage release definition. Learn the process of paying out the final held-back funds once a project reaches substantial completion.
Calculation Formula
Release Amount = Total Contract × Retainage % Real Contractor Example
After the punch list is done, the owner pays the remaining 10% ($25,000) that was held back throughout the project duration.
Put This Into Practice
Knowing the definition is step one. RemodelFin tracks this in real time on every job — no spreadsheets.