Retainage Payment and Article 9.8.5 in AIA A201

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Aleksandar Stojkovic

February 16, 2021 18:26

Article 9.8.5 states that the "... Upon such acceptance, and consent of surety if any, the Owner shall make payment of retainage applying to the Work or designated portion thereof. Such payment shall be adjusted for Work that is incomplete or not in accordance with the requirements of the Contract Documents"

Does this mean that the Owner shall partially pay retainage after the issuance of the Certificate of Substantial Completion (and shall keep a portion for the "punchlist" items)? 

 

 

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  Dylan Lopez March 11, 2021 02:23

  Correct if the project and contract call for retainage they release retainage after substantial completion and usually try to hold back at least twice the cost of the punch list work. 

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  Kevin Griendling March 12, 2021 17:49

  For the sake of clarity for other candidates using this board, I would like to add that this is a sub-section under "9.8 Substantial Completion". That would be the 'WHY' it is substantial completion and not any other milestone.

   

  Good luck,

   

  Kevin Griendling, AIA

  http://xQ.intersectartsstudio.com 

  http://www.pluralsight.com 

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