How Much Is 10% Retainage on a $150,000 Contract?
Retainage held at 10%
$15,000.00
10% retainage, shown at 100% completion so the figure is the full amount held by the end of the job.
How that number is worked out
These are the figures this page was built with and every line the calculator produces from them. Change anything above and all of it moves.
- Contract amount150000 $
- Retainage10 %
- Work completed to date100 %
- Already paid to you0 $
Payable on this application$135,000.00
| Contract amount | $150,000.00 |
|---|---|
| Work completed | 100% |
| Earned to date | $150,000.00 |
| Retainage held at 10% | $15,000.00 |
| Less already paid | $0.00 |
| Due on this application | $135,000.00 |
| Retainage held at completion | $15,000.00chase this at closeout |
Work completed compared
Retainage accumulates as the work does, so each progress application leaves a little more of your own money behind.
| Work completed | Payable on this application | Retainage held at 10% | Due on this application |
|---|---|---|---|
| 25% | $33,750.00 | $3,750.00 | $33,750.00 |
| 50% | $67,500.00 | $7,500.00 | $67,500.00 |
| 75% | $101,250.00 | $11,250.00 | $101,250.00 |
| 100% | $135,000.00 | $15,000.00 | $135,000.00 |
What else matters here
A $150,000 contract at 10 percent leaves $15,000 held and $135,000 paid through the progress applications.
Fifteen thousand dollars of your own money, out for however long closeout takes, has a cost even when it eventually arrives. If closeout runs six months, that money cost you roughly what six months of interest on a credit line costs, and nobody put that on the estimate.
This is a good size at which to negotiate a reduction. Asking for retainage to drop from 10 to 5 percent at substantial completion is normal, and it is a far easier conversation at signing than at the end.
What this calculator assumes
- Retainage is money you have earned that is held back until the job closes out. It is not a discount and it is not a deposit.
- Most states cap retainage on public work, commonly at 5 or 10 percent, and several require it to be released or reduced at substantial completion. Private contracts are freer and often worse.
- Retainage is usually the last money a contractor sees and the first thing forgotten at closeout. Track it separately from the invoice balance.
Questions people ask
How much is 10 percent retainage on a $150,000 contract?
$15,000 held by completion, with $135,000 paid across the progress applications.
Is there a limit on how much retainage can be held?
On public work, usually yes. Most states cap retainage on public projects, commonly at 5 or 10 percent, and several require it to be released or reduced at substantial completion. Private contracts are freer and are often worse.
Is retainage the same as a deposit?
No. A deposit is money paid before work. Retainage is money you have already earned and already put labor and material into, held back until the job closes out. It is not a discount, it is not a contingency, and it is not the customer's money.
The retainage calculator takes any dimensions you like and hands back the same list.