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How do I change the retention type?

Before the retention type can be changed, retainage has to be unlocked by the general contractor (How do I unlock retainage for a subcontractor SOV?).

  1. Create a new Application for Payment (AFP).
  2. Click the drop-down arrow on the Retainage Typeand choose from the following:
    • Standard Retainage will apply the designated retention rate to each AFP.
    • Variable Retainage will allow you to manipulate the retainage held on each individual line item.
    • Frozen Retainage will continue to hold retainage that is already held but will not hold more retainage moving forward.  
    • Lump Sum Retainage is for Non-Integrated clients only.  If you want to only hold a certain dollar amount in retainage, as opposed to a certain percentage on a line item.  This is good for situations where the General Contractor just wants to hold, for example, $5,000 in retainage for closeouts or punch list but release everything else to the sub.     
    • Capped Retainage allows you to establish a standard rate for the first 50% of a contract and a different standard rate for the second 50% of a contract.

Ginny is the author of this solution article.

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