retenido / el retenido

English translation: retainage

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:el retenido
English translation:retainage
Entered by: Robert Forstag

13:32 Jan 13, 2019
Spanish to English translations [PRO]
Bus/Financial - Law: Contract(s) / Contract dispute / Puerto Rico
Spanish term or phrase: retenido / el retenido
The context is a legal dispute between contractors and a public authority regarding a major construction project. The term “retenido” or “el retenido” is used in several places throughout a very long document in a way that it suggests that it means more than simply “retained funds” but is rather a separate category from “monies owed for work performed.”

Here is one example:

El retenido de [name of contractor A] fue parcialmente pagado (principal adeudado a [name of contractor A] en retenido y certificaciones al año 2006 es [amount].

Here is another example:

El [name of accountant] reconoció que la única documentación que [name of contractor B] no ha podido someter para que se le pague el retenido y los sustanciales fondos adeudados por [name of public authority] es la certificación de que no adeuda a suplidores y subcontratistas….

But the fact that seems to definitively show that my assumption is correct appears near the end of the document, where “el retenido” is listed as a separate ítem in a table listing the various monies claimed by one of the contractors:

Retenido y certificaciones adeudadas [followed by amount]

Is “retained” simply to be translated as “retained”/”retained funds” (or perhaps “withheld”) in each of these instances?

Many thanks.
Robert Forstag
United States
Local time: 08:36
retainage
Explanation:
There is a word for it. It's a percentage of the cost of the contract withheld by the public authority to cover debts or defects. I can't find a PR source that explicitly defines it, but this, from the PR government contracting regulations, gives us some idea (it's from the Google cached version; the doc. itself won't open for me):

"Retención del diez por ciento (10%) de la cantidad a pagarse por cada fase del proyecto, hasta alcanzar el cincuenta por ciento (50%) de obra ejecutada; luego de lo cual se reducirá el retenido a cinco por ciento (5%). El monto total del retenido se liquidará al finalizar la construcción, previo a ser certificada como correcta por el Director Ejecutivo o su representante autorizado."
https://webcache.googleusercontent.com/search?q=cache:JiYGyt...

"Retainage on public works
[...]
“Retainage” means the part of a public works contract payment withheld by a governmental entity to secure performance of the contract (V.A.C.S. Art. 6252-5b, Sec. (1.)"
https://wtagc.org/retainage/

"Contracts may include a provision that allows one party to withhold a certain percentage of the total payment called for under the contract until a project is substantially complete; the amount withheld is commonly referred to as a retainage. Retainages are intended to address concerns that a contractor will not finish a project if full payment already has been made. Retainages are frequently provided in construction and manufacturing contracts, as well as in contractual arrangements with the U.S. government."
https://www.thetaxadviser.com/issues/2013/jul/clinic-story-1...

"On public works contracts in Washington State, public agencies are required to withhold 5% of each progress payment as Retainage. The Retainage is a trust fund for the protection of the Washington State Department of Revenue for unpaid taxes and for workers, subcontractors, and suppliers who have not been paid."
http://publiccontracting.blogspot.com/2008/06/calculating-re...

--------------------------------------------------
Note added at 3 hrs (2019-01-13 17:08:45 GMT)
--------------------------------------------------

A translation is not evidence, but here, for what it's worth, is an extract from the English version of Puerto Rican public works contract (for the Puerto Rico Infrastructure Financing Authority):

"PRIFA reserves the right to request from Contractor any document it deems necessary in order to process any Application for Payment, including the retainage.
3.1.3 In accordance with the Contract Documents, the amount of retainage with respect to progress payments is ten percent (10%) of each partial payments [sic] made to the Contractor."
http://periodismoinvestigativo.com/wp-content/uploads/2016/0...
Selected response from:

Charles Davis
Spain
Local time: 14:36
Grading comment
Thanks, as always. :)
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +2retainage
Charles Davis
4retained funds
Mohamed Anwar
3 +1withheld
neilmac
Summary of reference entries provided
Jane Martin

  

Answers


6 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
withheld


Explanation:
I think the problem may be that they're likely using the term to refer to both the amount withheld/retained, and the person it is being withheld/retained from.


    https://www.dictionary.com/browse/withheld
neilmac
Spain
Local time: 14:36
Native speaker of: Native in EnglishEnglish
PRO pts in category: 324

Peer comments on this answer (and responses from the answerer)
agree  Phoenix III
1 hr
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24 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
retained funds


Explanation:
I think retained funds is ok
https://www.lawinsider.com/dictionary/retained-funds

Mohamed Anwar
Egypt
Local time: 15:36
Specializes in field
Native speaker of: Native in ArabicArabic
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
retainage


Explanation:
There is a word for it. It's a percentage of the cost of the contract withheld by the public authority to cover debts or defects. I can't find a PR source that explicitly defines it, but this, from the PR government contracting regulations, gives us some idea (it's from the Google cached version; the doc. itself won't open for me):

"Retención del diez por ciento (10%) de la cantidad a pagarse por cada fase del proyecto, hasta alcanzar el cincuenta por ciento (50%) de obra ejecutada; luego de lo cual se reducirá el retenido a cinco por ciento (5%). El monto total del retenido se liquidará al finalizar la construcción, previo a ser certificada como correcta por el Director Ejecutivo o su representante autorizado."
https://webcache.googleusercontent.com/search?q=cache:JiYGyt...

"Retainage on public works
[...]
“Retainage” means the part of a public works contract payment withheld by a governmental entity to secure performance of the contract (V.A.C.S. Art. 6252-5b, Sec. (1.)"
https://wtagc.org/retainage/

"Contracts may include a provision that allows one party to withhold a certain percentage of the total payment called for under the contract until a project is substantially complete; the amount withheld is commonly referred to as a retainage. Retainages are intended to address concerns that a contractor will not finish a project if full payment already has been made. Retainages are frequently provided in construction and manufacturing contracts, as well as in contractual arrangements with the U.S. government."
https://www.thetaxadviser.com/issues/2013/jul/clinic-story-1...

"On public works contracts in Washington State, public agencies are required to withhold 5% of each progress payment as Retainage. The Retainage is a trust fund for the protection of the Washington State Department of Revenue for unpaid taxes and for workers, subcontractors, and suppliers who have not been paid."
http://publiccontracting.blogspot.com/2008/06/calculating-re...

--------------------------------------------------
Note added at 3 hrs (2019-01-13 17:08:45 GMT)
--------------------------------------------------

A translation is not evidence, but here, for what it's worth, is an extract from the English version of Puerto Rican public works contract (for the Puerto Rico Infrastructure Financing Authority):

"PRIFA reserves the right to request from Contractor any document it deems necessary in order to process any Application for Payment, including the retainage.
3.1.3 In accordance with the Contract Documents, the amount of retainage with respect to progress payments is ten percent (10%) of each partial payments [sic] made to the Contractor."
http://periodismoinvestigativo.com/wp-content/uploads/2016/0...

Charles Davis
Spain
Local time: 14:36
Native speaker of: Native in EnglishEnglish
PRO pts in category: 451
Grading comment
Thanks, as always. :)

Peer comments on this answer (and responses from the answerer)
agree  Rebecca Jowers: https://mmmsk.com/retainage-what-contractors-should-know/
4 hrs
  -> Thanks, Rebecca. Excellent reference!

agree  neilmac
18 hrs
  -> Many thanks, Neil :-)
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Reference comments


1 hr
Reference

Reference information:
EL RETENIDO DEL CONTRATO - Parte II
https://www.facebook.com/CABANLEGALOFFICE/posts/el-retenido-...

Jane Martin
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 63
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