Holdback
A percentage of a contract price that an owner or contractor retains or percentage of a loan that a lender retains until the project is finished or all project bills are paid. Holdback is usually at least 10 percent of the total amount.
A percentage of a contract price that an owner or contractor retains or percentage of a loan that a lender retains until the project is finished or all project bills are paid. Holdback is usually at least 10 percent of the total amount.