DC General Contractor Practice Questions - District Of Columbia General Contractor Exam

What is retainage, and what is the typical percentage withheld on DC construction projects?

A performance bonus; 15% of the contract A percentage of each payment withheld until substantial completion; typically 5-10% The contractor's profit margin; typically 20% A tax withholding; 3% of all payments

Correct Answer:

A percentage of each payment withheld until substantial completion; typically 5-10%

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