holdback

rk has been completed satisfactorily. Certification that all contractual obligations, including inspections, warranties, or punch-list items, are fulfilled. Any necessary approvals or certifications from relevant authorities. Example: _"All work has been completed in accordance with the contract sp

retained by the client or project owner until certain conditions are satisfied. This practice is common in construction and renovation projects, serving as a safeguard for clients to ensure the work is completed satisfactorily, on time, and according to