Define: Retainage

UK Accounting Glossary

Definition: Retainage

What is the dictionary definition of Retainage?

Dictionary Definition

An amount of money held back from a payment as insurance against the work not being completed.


Full Definition of Retainage

A retainage is a portion of a contract’s final payment that’s withheld by a principal (client or owner) until the project is complete in all respects; functioning satisfactorily according to the contract terms, and all mechanic’s liens have either been released or have expired.


Synonyms For Retainage

holdback, retained, chosen, amount retained, from object

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Retainage. Payroll & Accounting Heaven Ltd. March 31, 2020
Chicago Manual of Style (CMS):
Retainage. Payroll & Accounting Heaven Ltd. (accessed: March 31, 2020).
American Psychological Association (APA):
Retainage. Retrieved March 31, 2020, from website:

Definition Sources

Definitions for Retainage are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th December 2019.