2 the retainage is ten percent 10 by client the

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Unformatted text preview: ts, total payments, and overdraft. Assume the followings: 1. An advanced payment of five percent (5%) of the total Contract value is paid by the Client against a five percent (5%) deduction from monthly Progress Payments. 2. The retainage is ten percent (10%) by client. The retention is only applied on the first six (6) Progress Payments. The total retained amount will be paid to Contractor with his\her last Progress Payment 3. Markup is twenty five percent (25%). 4. The interest rate is one percent (1%) per month. 5. There are four (4) weeks in a month. 6. Indirect costs are estimated to be one thousand US dollars ($1,000) per week. 7. The payment is received one month after billing (i.e., two months delay). 8. Weekly costs of each activity ar...
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This document was uploaded on 01/19/2014.

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