§ 2-422. Contingency and partial payment – Retainage.
This section is included in your selections.
A. A contract shall provide for partial progress payments based upon stages of work completed. The contract shall provide that up to ten percent (10%) of all partial payments made shall be withheld as retainage.
B. Procurement officer shall withhold three percent of the contract as contingency for unexpected costs, and shall only be expended by authorization of Tribal Development. ONCA 07-57, eff. Apr. 18, 2008; ONCA 12-19, eff. Dec. 20, 2011; ONCA 14-31, eff. May 30, 2014; ONCA 16-06, eff. Dec. 22, 2015.