retained payment
[rɪˈteɪnd ˈpeɪmənt]
nounpl: retained payments
pagamento retido
1. A sum of money withheld by a payer from a payment due to a contractor, supplier, or service provider, typically held as security until contractual obligations are fully completed or performance standards are met
The construction company received a retained payment of 10% until the project was fully inspected and approved.
A empresa de construção recebeu um pagamento retido de 10% até que o projeto fosse totalmente inspecionado e aprovado.
2. A portion of compensation held back by an employer or client for a specified period to ensure compliance with terms of service or quality standards
The freelancer's retained payment would be released once all deliverables met the client's requirements.
O pagamento retido do freelancer seria liberado assim que todos os entregáveis atendessem aos requisitos do cliente.
Retained payments are a standard practice in construction, freelance work, and B2B transactions in both the USA and Brazil. In Brazil, they are particularly common in construction contracts (obras) and are governed by specific provisions in commercial law. The practice protects buyers/clients from non-compliance while providing contractors with leverage to ensure timely completion of work.
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