Why does the owner want to withhold retainage on pay applications?

The owner want to withhold retainage on pay applications because many contractors pass down the owner's right to withhold retainage to the subcontractor.

Explanation:

Retainage is agreed part of contract price that is deliberately withheld until the work has been completed to a significant extent to make sure that contractor or subcontractor will satisfy its aloted work and complete the project on time.

Retainage has been in practice since a long time. It was used in construction of the United Kingdom railway system in 1840s.

If one needs to impose retainage on a construction project, then it should be clearly mentioned in the contract.

Retainage is applicable on both subcontracts and prime contracts.

answer:

a

explanation:

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