G707A–1994, Consent of Surety to Final Reduction in or Partial Release of Retainage

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This is a standard form for use when a surety company is involved and the owner/contractor agreement contains a clause whereby retainage is reduced during the course of the construction project. When duly executed, AIA Document G707A™–1994 assures the owner that such reduction or partial release of retainage does not relieve the surety of its obligations.