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Procore (en-GB)

Set or Release Retention on an Owner Payment Application

 Note
The steps below describe how to release retention on an owner payment application with the Main Contracts tool. For companies using the project's Invoicing tool (see Invoicing), users with 'Admin' permission on the Main Contracts tool can also perform this task with the Invoicing tool. For details, see Invoicing: Set or Release Retention on an Owner Payment Application

Objective

To set or release retention for line items on an owner payment application with the Main Contracts tool. 

Background

You can use the steps below to:

  • Set the Retention Amount. Enter a percentage to calculate the withholding amount. This percentage will be applied to all of the line items on the payment application. For example, enter 10% to withhold to withhold 10% on each payment application line item. 
  • Release the Retention Amount. Enter a percentage to calculate the amount to release on the payment application. This moves the calculated amount from the 'Currently Retained' column to the 'Released this Period' column in the main contract. You can adjust this amount to perform a partial or full release as follows: 
    • A partial release indicates an an amount is being withheld. For example, you would enter 50% if you are halfway through the project and your payment application is for a progress payment.
    • A final release means you are releasing the full amount and retention is no longer being withheld. For example,  you would enter 100% after all of a project's contractual obligations are substantially complete and your payment application is for a final payment.

Things to Consider

  • Required User Permission:
    • 'Admin' on the project's Main Contracts tool. 

Steps

  1. Navigate to the project's Main Contracts tool.
  2. Click the Payment Applications tab. 
  3. Locate the owner payment application that you want to work with.
  4. Click the Detail tab.
  5. Click the Edit button. 
  6. Choose one of the following:

Set Retention on All Line Items

Release Retention on All Line Items