Free Tool
Free retainage calculator
Enter your contract, retainage rate, and work completed to see the retainage held, the payment due now, and the total that gets released at closeout. Free, no signup.
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Know what is being held and when it comes back
Retainage is the part of each payment the owner holds back until the job is finished, usually 5 or 10 percent. It is your money, just parked to make sure the work gets done right.
The calculator shows the retainage held against your work to date, and the current payment due, which is what you have earned less the retainage and less what you have already been paid.
It also shows the total retainage the job will hold at 100 percent complete. That is the number to keep an eye on, because it is your profit sitting in someone else's account. Track when it releases. Many contracts cut the rate at substantial completion and release the balance at final acceptance.
Questions
What is retainage?
Money the owner holds back on each draw, often 5 to 10 percent, until the project is complete. It protects the owner and is released to you at closeout.
How do I calculate retainage?
Multiply the work completed and stored to date by the retainage rate. The calculator does it and also shows your current payment due.
When is retainage released?
At final completion and acceptance. Many contracts reduce the rate at substantial completion, so read your contract for the terms.
Is this really free?
Yes. No email, no signup, and nothing you type leaves your browser.
Track retainage automatically on every draw
Werx tracks retained and released amounts on every pay application, carries the balances forward, and bills the release when it is due. 14-day free trial, no credit card.
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Disclaimer: These free tools and templates are provided for general information and estimating purposes only. All results — including quantities, material and cost estimates, load, sizing, and span figures, scores, and any guidance or warnings — are rough approximations that may not fit your specific project, site conditions, local building codes, or current prices. They are not engineering, architectural, structural, legal, financial, or other professional advice, and are not a substitute for a licensed engineer, architect, contractor, or other qualified professional. Always confirm quantities, sizing, and structural, electrical, mechanical, and code requirements with a licensed professional and your local authority having jurisdiction before purchasing materials or performing any work. Werx makes no warranty as to accuracy and accepts no liability for any decision made using these tools. Use at your own risk. See our Terms of Service.