{"id":11861,"date":"2018-06-16T17:40:35","date_gmt":"2018-06-16T17:40:35","guid":{"rendered":"https:\/\/examchum.uk\/?p=11861"},"modified":"2021-01-23T16:19:06","modified_gmt":"2021-01-23T16:19:06","slug":"retention_during_valuation","status":"publish","type":"post","link":"https:\/\/examchum.uk\/landscape-architecture\/retention_during_valuation\/","title":{"rendered":"What is Retention during a valuation?"},"content":{"rendered":"<p>[vc_row][vc_column][vc_column_text]<strong>Retention<\/strong> during a <a href=\"https:\/\/examchum.uk\/landscape-architecture\/what-is-a-valuation\/\">valuation <\/a>is a percentage (often 5%) of the amount certified as due to the contractor on an <a href=\"https:\/\/examchum.uk\/landscape-architecture\/types-of-construction-certificates\/\">interim certificate<\/a> that is retained by the client. The purpose of retention is to ensure the contractor properly completes the works required under the contract. Half of the amount retained is released on certification of <a href=\"https:\/\/examchum.uk\/landscape-architecture\/practical-completion\/\">practical completion<\/a> and the remainder is released upon certification of <a href=\"https:\/\/examchum.uk\/landscape-architecture\/certificate-of-making-good-defects\/\">making good defects<\/a>.<\/p>\n<p>Retention due to <a href=\"https:\/\/examchum.uk\/landscape-architecture\/subcontractor\/\">subcontractors<\/a> may in turn be held by the main contractor and so on down through the contractual chain.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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.<\/p>\n","protected":false},"author":1,"featured_media":11091,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[153,20],"tags":[410,409,115,411,412],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Retention during a valuation? 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