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Procore

Set and Release Retention on an Owner Progress Claim

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Objective 

To set or release retention for line items on an owner progress claim from the Project level Invoicing tool. 

Background 

In Procore, the term Retention refers to the practice of withholding of a portion of a contract amount until the work is deemed satisfactorily complete. The withheld amount is specified in an agreement between the contracting party (the party paying for the work) and a contracted party (the person or company performing the work).  A common practice is to withhold 5-10% of a contract's total value until a milestone is reached. Then, the withheld amount can be released as a progress payment. When work is substantially complete, the withheld amount can be released as a final payment. 

Things to Consider 

  • Required User Permissions:
    • 'Admin' level permissions on the project's Head Contracts tool.
  • Additional Information:
    • You can only edit the most recently created progress claim. 

Prerequisites 

Steps 

Edit the Schedule of Values  

  1. Navigate to the project's Invoicing tool.
  2. Click the Owner tab. 
  3. In the table, locate the progress claim to edit.
  4. Click the Progress Claim # link to open it. 
  5. Scroll to the Schedule of Values.
  6. Click Edit.

Set or Release Retention on multiple Line Items  

  1. With the Schedule of Values open in edit view, locate the line item(s) to modify and scroll to the right of the page to view the retention column.
  2. Place a checkmark in any or all boxes to select lines:
  3. Click Edit Values to open the side panel.
  4. In the panel, enter numerical values in the following fields to replace any existing values for the selected lines: 
    • Total to Date (%) - Enter the total percentage of work and stored materials that have been completed as of today. 
    • Work Retention this Period (%) - Enter the percentage of retention to be held on work completed for this period.
    • Materials Retention (%) - Enter the percentage of retention to be held on materials.
    • Work Retention Released (%) - Enter the percentage of the retention to release. For example, enter 100% to release all, or 50% to release half.
    • This Period (%) - Enter the percentage of work that was completed this period in the Work Completed this Period (%) field.
  5. Click Apply.
  6. Click Save to finalise the changes. 

Set or Release Retention on individual Line Items  

To set or release retention on progress claim line items:

  1. With the Schedule of Values open in edit view, locate the line item(s) to modify and scroll to the right of the page to view the retention column.  
  2. In the Retention column header, click the Expand Column Group carat to display editable retention fields: 
  3. Scroll to the right and locate the appropriate field(s) to enter new values into.
    • To set retention, choose one of the following options:
      • To set by dollar amount, enter a dollar amount to withhold for the line item in Work Retention this Period ($). Procore automatically calculates the entry in the Work Retention (%) field for that line. 
        Example
        If you enter $250 in Work Retention this Period ($), Procore calculates the Work Retention this Period (%) as 5%:
      • To set by percentage, enter a percentage amount to withhold for the line item in Work Retention this Period (%). Procore automatically calculates the entry in the Work Retention this Period ($) field for that line.
        Example
        If you enter 6% in Work Retention this Period (%), Procore calculates the Work Retention this Period ($) as $300.00: 
    • To release retention, enter a dollar value in the Work Retention Released This Period field. Procore automatically updates the Retention and Progress Claim totals.
      • Note: Retention can only be released by dollar amount per individual line. To release a percentage, follow the steps under [ ].
        Example
        If you enter a value in the Work Retention Released This Period field, Procore reduces the Retention total which increases the overall Progress Claim value: 
  4. Update the amount of retention to release in each line item on the progress claim as needed.
  5. Click Save.

See Also