Form CS-1 2010-2025 free printable template

CONTRACTOR S REQUEST FOR REDUCTION OF RETAINAGE TO Owner Date FROM Contractor Name Address OWNER S PROJECT CONTRACT NO. CONTRACT WORK Adjusted Total Contract Including Change Orders Work Completed Not Including Material Stored Current Retainage Requested Retainage Consent of Surety Letter attached Contractor Signature Contractor s Typed Name Title PROFESSIONAL ENGINEER S RECOMMENDATION FOR REDUCTION OF RETENTION Pursuant to the conditions of the ...

How to fill out Form CS-1

How to fill out Form CS-1

1. Obtain Form CS-1 from the relevant authority or their website.
2. Read the instructions carefully before starting to fill it out.
3. Enter your personal information in the designated fields, including your name, address, and contact details.
4. Fill in the specific details required for your situation, such as dates and relevant identifiers.
5. Review all the information for accuracy and completeness.
6. Sign and date the form where indicated.
7. Submit the form as instructed, either online or via mail.

Who needs Form CS-1?

1. Individuals applying for benefits related to child support or custody issues.
2. Legal representatives assisting clients in family law cases.
3. Anyone required to provide information to the court regarding child support obligations.

People Also Ask about

What is a retention reduction?

Retention Reduction Amount means an amount equal to the difference between the total Retention Amount held by the Project Company on the Commercial Operation Date, less the Retention Limit on the Commercial Operation Date.

What does it mean to release retainage?

Retainage is a percentage of the contract amount that is held until a specific date after the completion of the work. You release retainage by creating a voucher pay item with a Pay Status of A (Available to Pay) for the amount that you want to release. The retainage amount is also referred to as holdback.

Is retainage an asset or liability?

Retainage for which the Company has an unconditional right to payment that is only subject to the passage of time are included in contracts receivable.” In other words, unconditional retainage is classified as contracts receivable and conditional retainage is classified as a contract asset (subject to Netting Principle

How do you treat retention amount in accounting?

When retention is subtracted from the invoice, the amount held is recorded as retention receivable. Once the project is complete and you're billing your customer for the retention that was held throughout the project, the amount then moves from retention receivable to accounts receivable.

What is the accounting treatment for retainage?

Accounting Treatment The client, who owes retainage to the contractor, records retainage as a liability. For example, if a contractor works on a $100,000 project with a ten percent retainage, then they will record $90,000 as accounts receivable and $10,000 as retainage due.

How do you calculate 5% retainage?

For example, if the complete project cost is $200,000 to be paid in five progress payments and the percentage to be retained is 5%, the calculation would be as follows: 200,000 x 0.05 = 10,000 total retainage amount. 10,000 divided by 5 = 2,000 retainage withheld from each progress payment.

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What is Form CS-1?

Form CS-1 is a specific form used for reporting certain information required by regulatory authorities, often related to compliance and financial reporting.

Who is required to file Form CS-1?

Entities or individuals that meet specific regulatory criteria and have certain obligations under the law must file Form CS-1.

How to fill out Form CS-1?

To fill out Form CS-1, follow the instructions provided with the form, ensuring all required fields are completed accurately and relevant data is attached as needed.

What is the purpose of Form CS-1?

The purpose of Form CS-1 is to collect essential information for compliance purposes, enabling regulatory bodies to monitor and enforce legal requirements.

What information must be reported on Form CS-1?

Form CS-1 typically requires reporting of financial data, operational details, and any other information specified by the regulatory authority overseeing the form.