How Much Is 10% Retainage on an $80,000 Contract?
Retainage held at 10%
$8,000.00
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 amount80000 $
- Retainage10 %
- Work completed to date100 %
- Already paid to you0 $
Payable on this application$72,000.00
| Contract amount | $80,000.00 |
|---|---|
| Work completed | 100% |
| Earned to date | $80,000.00 |
| Retainage held at 10% | $8,000.00 |
| Less already paid | $0.00 |
| Due on this application | $72,000.00 |
| Retainage held at completion | $8,000.00chase 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% | $18,000.00 | $2,000.00 | $18,000.00 |
| 50% | $36,000.00 | $4,000.00 | $36,000.00 |
| 75% | $54,000.00 | $6,000.00 | $54,000.00 |
| 100% | $72,000.00 | $8,000.00 | $72,000.00 |
What else matters here
Ten percent of $80,000 is $8,000 held and $72,000 paid across the progress applications.
Retainage is released against lien waivers, and the difference between the two kinds of waiver is the whole risk. A conditional waiver takes effect only when the payment it names actually clears. An unconditional waiver gives up the right the moment it is signed, whether or not any money ever arrives.
So the rule is simple and it should never bend: conditional waiver when the check is promised, unconditional only after the funds have cleared the bank. Signing an unconditional final waiver to trigger the release of retainage means handing over your security first and asking for the money afterwards. Several states publish statutory waiver forms, and where they exist using the state form removes the argument about what the wording meant.
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 an $80,000 contract?
$8,000 held and $72,000 payable across the job, with the $8,000 released at closeout.
What is the difference between a conditional and unconditional lien waiver?
A conditional waiver takes effect only when the named payment clears. An unconditional waiver gives up the right as soon as it is signed, paid or not.
Should I sign a waiver to get retainage released?
A conditional one, yes. Never an unconditional one before the funds have cleared, because that surrenders the security before the money arrives.
The retainage calculator takes any dimensions you like and hands back the same list.