Retainage Release
The process of paying out the [[concept-retainage|retainage]] withheld from progress payments throughout a project, typically released partially at [[concept-substantial-completion|substantial completion]] and fully at final completion, often requiring [[concept-lien-waiver|lien waivers]] from every payee first.
Why it matters
Because full release often waits on every subcontractor finishing and submitting paperwork, one slow subcontractor's punch list or paperwork can hold up cash that's rightfully owed to every other subcontractor on the project.
On a real project
A general contractor releases half of a subcontractor's retainage at substantial completion once its work is largely done, holding the remaining half until final completion and a signed lien waiver confirm the punch list is fully resolved.
Who this matters most to
A Contracts Administrator tracks each subcontractor's retainage balance and the specific conditions, punch list sign-off, lien waivers, that have to be met before each release.
Where this goes wrong
A subcontractor completes its punch list work but the GC won't release retainage until every other subcontractor on the project also finishes and submits lien waivers, tying one sub's cash flow to the slowest sub on the job.