• FirefoxInstall the new Firefox »
  •  
    Insurance

    Question

    What is retention sum?

    Construction contract
    9 months ago 2 Answers

    Best Answer

    the retention sum is the amount of money which is held back for the duration of the defects period, say three to six months, and is one of the most effective ways of ensuring that your contractor will promptly fix any problems, let me know if you need any more info on this
    a few seconds ago

    Other Answers

    • We have a 30millions contract with the client and the work is about 99.9% completed and the retention sum is retained 5% about 1.5millions. For this substantial amount in this completion situation, is there any regulation releasing some % from client..

      by Moe K - 16 hours ago

    Recommended Articles

     
     
     
     
    Yahoo Small Business Services