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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If annual renewal, the procedure for drawing a new holdback under the conditions of this article.
Deposits and Guarantees required: A holdback of 5% will be applied to each installment, the tax on value added at the date of signing of the contract is included.
All of these holdbacks were made permanent in the 1998 budget except for public schools.
Accordance with the law n A 71-584 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 replacing the application of the holdback