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 ?
Deposits and Guarantees required: A holdback of 5% will be applied to each deposit, the value added tax on the date of signing the contract being included.
according to the NO71-584 Act of 16 July 1971 designed to regulate holdbacks on contracts of work defined by Article 1779-3 A of the Civil Code, a licensee may provide a joint and several guarantee replacement application the holdback.
Holdbacks will be returned or released on demand guarantee issued one month at the latest after the expiry of the warranty period.
UN), for an aggregate purchase price of Cdn $133 Million, subject to the usual closing adjustments as well as holdbacks with respect to the completion of remerchandising plans for several of the Centres.