For some projects, a standard percent of each Pay Request will be retained by the project owner until project completion. Oversite is designed to track this type of retainage. To get started, follow the directions below.
Activate Project-Level Retainage
Only Draft Projects
The project retainage setting can only be changed when the project is in Draft. You can cannot change the retainage setting or percentage amount if the project is in Under Construction.
Release Retained Value
Retained value can be released when creating or editing an Pay Request. For more information, please read the Release Retained Value article.
Navigate to the project that needs retainage applied.
Navigate to the #4 Settings.
Toggle the Project Retainage switch to turn retainage on and off. Gray is off, Blue is on.
Enter the percent of each Pay Request that should be retained.
Entering 10 will retain 10% of each Pay Request.
