retainage

retainage (ri-tayn-ij). A percentage of what a landowner pays a contractor, withheld until the construction has been satisfactorily completed and all mechanic’s liens are released or have expired. — Also termed retained fund. [Cases: Contracts 214, 221(3). C.J.S. Contracts §§ 356, 578–579, 584.]

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词条贡献者

法律翻译David，毕业于美国顶尖的高级翻译学院，专注翻译各类与电子证据开示与文件保全有关的法律文件。