1. (a) Retainage withheld. Progress payments to the prime contractor should be for no more than 95% of the actual work completed at the time of the payment request.
2. (b) Partial release of retainage. If a project is substantially complete, a partial release of the 5.0% retainage may be made by the applicant with the approval of the executive administrator.

Source Note:The provisions of this §371.86 adopted to be effective March 18, 1997, 22 TexReg 2502.