RETAINAGE
retainage (ri-tayn-ij). A percentage of what a landowner pays a contractor, withheld until the
construction has been satisfactorily completed and all mechanic’s liens are released or have
expired. — Also termed retained fund. [Cases: Contracts 214, 221(3). C.J.S. Contracts §§ 356,
578–579, 584.] [Blacks Law 8th]