Change the Retainage Rate on a Schedule of Values Line

Change the retainage rate on a per-line-item basis in a contract's Schedule of Values.

You must have the Curator role on the project in order to change a line's retainage rate in the contract's Schedule of Values.
By default, the retainage rate set for the contract applies to all lines. However, you may want to hold a different rate retainage - or none at all - on certain things:
  • deposits
  • material purchases
  • change orders
This is accomplished by first creating separate line items in the Schedule of Values.
Note:
  • Changing the retainage rate on a SOV line does not impact retainage that has been held to date, that is, from previous submissions.
  • If you need to reduce the retainage that has been held to date, take the steps in Release Retainage.
  1. From your Dashboard, select the project and then double-click the applicable contract.
  2. Among the tabs at the top of the screen, select Retainage.
  3. In the Retainage Items area, select Change line item rates.
  4. For each applicable line, enter the new rate.
  5. Select Apply changes.
  6. Select Yes to confirm.