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Procore Support (en-au)

Enable Retention on a Commitment

 In Beta - Early Access DESIGN

The information on this page has been updated for the early access design release of the new Contracts table in the project's Commitments tool. To learn more about the early access design and its features, see Project Financials: New Contracts List in Commitments & Prime Contracts.

Objective

To enable retainage on a purchase order or subcontract using the project's Commitments tool. 

Background

In Procore, you can enable a retainage percentage amount in the project's Commitments tool:

  • Completed Work Retention. An agreed-upon amount on a contract that is withheld from a contractor/subcontractor to ensure the work is satisfactorily complete on a construction project. 
  • Stored Material Retention. Retention can also be allocated on a contract for stored materials to ensure sufficient materials are available for work.

Things to Consider

Steps

  1. Navigate to the project's Commitments tool. 
  2. Beta Under the Contracts tab, locate the purchase order or subcontract. Then click View.
  3. Click the Advanced Settings tab.
  4. Click Edit.
  5. Scroll to the Progress Claim Settings area. Then:
    • For commitments formatted as a Unit Quantity:
      Place a checkmark in the Enable Completed Work Retention box
      Note: Commitments formatted as a unit quantity must be billed as Completed Work and NOT Stored Materials.
      OR 
    • For commitments formatted as Amount Based:
      Place a checkmark in one or both boxes:
  6. Click Save.

 

If you would like to learn more about Procore’s commitments software and how it can help your business, please visit our construction financials tool product page here.