In the majority of contracts the retention amount would always be 5%. There might be rare exceptions where particular concerns…
16 June 2018 Read more
In the majority of contracts the retention amount would always be 5%. There might be rare exceptions where particular concerns…
Retention during a valuation is a percentage (often 5%) of the amount certified as due to the contractor on an interim certificate that is retained by the client.
A Collateral Warranty refers specifically to a contract between a professional consultant, building contractor or sub-contractor and a third party.