holdback

Definition

A contractual condition in which money is withheld until a specified event occurs.

Use holdback in a sentence

You may want to try and holdback on a project until you are sure that you are able to take it on.

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Failure on the part of a contractor to fulfill his or her obligations can result in the forfeiture of all or part of any holdback retained by the end user of the services rendered.

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Due to the agreements of the holdback, the children could not receive their inheritance until they had proof that they were accepted to a higher institution of learning.

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hold up holdback provision