What is holdbacks?
Retainage: a percentage withheld from each construction draw until completion to ensure the contractor finishes the work, resolves punch-list items, and delivers lien releases.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.