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Set or Release Retention on an Owner Progress Claim

 Note
The steps below describe how to release retention on an owner progress claim with the Head Contracts tool. For companies using the project's Invoicing tool (see Invoicing), users with 'Admin' permission on the Head Contracts tool can also perform this task with the Invoicing tool. For details, see Invoicing: Set or Release Retention on an Owner Progress Claim

Objective

To set or release retention for line items on an owner progress claim with the Head Contracts tool. 

Background

You can use the steps below to:

  • Set the Retainage Amount. Enter a percentage to calculate the withholding amount. This percentage will be applied to all of the line items on the invoice. For example, enter 10% to withhold 10% on each invoice line item. 
  • Release the Retention Amount. Enter a percentage to calculate the amount to release on the progress claim. This moves the calculated amount from the 'Currently Retained' column to the 'Released this Period' column in the head contract. You can adjust this amount to perform a partial or full release as follows: 
    • A partial release indicates an amount is being withheld. For example, you would enter 50% if you are halfway through the project and your invoice is for a progress payment.
    • A final release means you are releasing the full amount and retainage is no longer being withheld. For example,  you would enter 100% after all of a project's contractual obligations are substantially complete and your invoice is for final payment.

Things to Consider

  • Required User Permissions:
    • 'Admin' level permissions on the project's Prime Contracts tool. 

Steps

  1. Navigate to the project's Head Contracts tool.
  2. Click the Progress Claims tab. 
  3. Locate the owner progress claim that you want to work with.
  4. Click the Detail tab.
  5. Click the Edit button. 
  6. Choose one of the following:

Set Retention on All Line Items

Release Retention on All Line Items

 

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