How Much Is 10% Retainage on a $300,000 Contract?
Retainage held at 10%
$30,000.00
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 amount300000 $
- Retainage10 %
- Work completed to date100 %
- Already paid to you0 $
Payable on this application$270,000.00
| Contract amount | $300,000.00 |
|---|---|
| Work completed | 100% |
| Earned to date | $300,000.00 |
| Retainage held at 10% | $30,000.00 |
| Less already paid | $0.00 |
| Due on this application | $270,000.00 |
| Retainage held at completion | $30,000.00chase 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% | $67,500.00 | $7,500.00 | $67,500.00 |
| 50% | $135,000.00 | $15,000.00 | $135,000.00 |
| 75% | $202,500.00 | $22,500.00 | $202,500.00 |
| 100% | $270,000.00 | $30,000.00 | $270,000.00 |
What else matters here
A $300,000 contract at 10 percent holds $30,000 and pays $270,000. Halfway through, $15,000 is held and $135,000 has been paid.
Change orders are contract value, so retainage applies to them exactly as it applies to the base scope. That is easy to accept and easy to forget, and it produces a specific problem on jobs where change orders are approved slowly: work performed in month two gets added to the contract in month six, and the retainage on it is then withheld from an application near the end of the job.
Track it as a separate column. Base contract, approved changes, revised contract, earned to date, retained to date. When the revised contract figure moves, the retainage figure moves with it, and the reconciliation at closeout has to add up against the revised total rather than the original. A closeout that reconciles against the original contract will always be short by the retainage on the changes.
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 $300,000 contract?
$30,000 held and $270,000 payable, with $15,000 held at the halfway point.
Does retainage apply to change orders?
Yes. A change order adds contract value and retainage is held on it the same way, which is why the revised contract total is the figure to reconcile against.
How do I track retainage on a job with many change orders?
Keep base contract, approved changes, revised contract, earned to date and retained to date as separate columns, so the holdback moves whenever the revised total does.
The retainage calculator takes any dimensions you like and hands back the same list.