holdback


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holdback

Retainage; amounts withheld from payment until certain goals have been reached.

Example: A lender holds back funding the balance of a loan until stabilized occupancy has been reached, or a homeowner holds back the final 10 percent of a construction contract price until after completion of all inspections.

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References in periodicals archive ?
While most escrow arrangements or holdback agreements will provide some restriction or limit on a seller's right to escrowed funds, it cannot be assumed that every restriction will be sufficiently substantial to avoid application of the constructive receipt doctrine.
In the event that the guarantee would not be created or completed no later than the date on which the holder shall submit the request for payment for the first installment, the fraction of the holdback corresponding to the down payment is taken.
Assuming warranty or guarantee would be made or completed within that period, the fraction of the holdback corresponding to the down payment is taken.
This holdback may be replaced at the option of the holder by a demand guarantee or, if the two parties agree, by a joint and several guarantee, incorporated in full no later than the date on which the holder shall demand payment for the first installment of the market.
Using a unique financing structure, the Company's contracted relationship with its dealers remains unaffected with the dealers' rights to future payments of dealer holdback preserved.
Deposits and Guarantees required: A holdback of 5% of the amount of each purchase order will be made.
The remaining 94%, less amounts due to dealers for payments of dealer holdback, will be used to repay the indebtedness.
Deposits and Guarantees required: Pursuant to Article 101 of the Public Procurement Code, a holdback will be charged by fractions of the amount of each payment by the accounting officer of payments.
1971, the holdback is 5% of the amount (TTC) in payments referred to in section 7.