22/12/2022
Retention is a liability mechanism in contracts to ensure the contractor properly completes the works and cover defective work which may become patent after the completion date for a period of 12 or 24 months.
Unfortunately retention release can be abused and it is often viewed as way for clients to make additional margin off their supply chain as they rely on unorganised and commercially unstable businesses to be late or forgetting to collect.
In this video, Chris talks about how you can manage your outstanding retentions so you collect on time, every time.
WATCH HERE: https://youtu.be/ELnk0yCDV50