Retain是“保留”,retainage是什么意思呢?请看对话:
A: What else do we have, Mr. Johnson?
B: We want a 15 percent retainage to be withheld on this project. We will transfer the money to you within a week after the project is completed and passes inspection.
A: Could you make it a little less? Normally our clients ask for a 10 percent retainage.
B: I will discuss it with my partner and call you later.
Note: The business dictionary website defines “retainage” as the portion of a contract’s final payment withheld by a principal (client or owner) until the project is complete in all respects, functioning satisfactorily according to the contract terms. In plain words, it is an amount of money withheld from full payment until work is done. It is withheld to assure that contractor will satisfy its obligations and complete a project.
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