Hợp đồng & Thực hiệnCâu 878 / 1605
A 'retention' (retainage) provision in a construction contract generally allows the owner to:
a.Keep the contractor's tools permanently
b.Charge the contractor extra fees
c.Withhold a specified percentage of each progress payment until the work is satisfactorily completed
d.Avoid paying for any completed work
Giải thích
A retention or retainage clause lets the owner withhold an agreed percentage (commonly around 5-10%) from each progress payment as security, releasing it after the work is satisfactorily completed or accepted. It incentivizes the contractor to finish properly and correct defects. It does not let the owner seize the contractor's tools, escape paying for completed work altogether, or impose extra fees; the withheld retention is eventually paid when conditions are met.
Luyện miễn phí toàn bộ 1605 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A contractor's bid submitted to an owner is best characterized in contract terms as:
- 'Promissory estoppel' may allow enforcement of a promise, even without traditional consideration, when:
- A general contractor uses a subcontractor's bid to prepare and win the prime contract, reasonably relying on that bid. If the sub then tries to withdraw the bid, the general may argue the sub is bound under:
- A 'progress payment' schedule in a construction contract is designed to:
- A contract that is unfair and one-sided to the point of shocking the conscience, formed under grossly unequal bargaining power, may be held unenforceable as:
- A 'scope of work' provision in a construction contract is important primarily because it:
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Sen Lin, Người sáng lập PrepPass · Đối chiếu với California CSLB Contractor License Law & Business Exam · Quy trình kiểm tra
Người kiểm duyệt Abraham Chen — Licensed California General Contractor (CSLB License #1101856 — kiểm tra)