As you know we price a lot of large residential developments for Commercial Painting Contractors and it never ceases to amaze me the Contract terms pertaining to retention, that the painter is expected to sign up to.
Here's a typical one:
The Retention shall be released to the Contractor on application by the Contractor in two stages as follows: 2.5% shall be released at completion of the last property at the Site. 2.5% shall be released two years after completion of the last plot at the Site provided always that the Company shall be entitled at its discretion (without prejudice to any other rights it may have) to withhold the Retention until any defects, shrinkages or other faults which the Company has instructed the Contractor to make good.......
Why would anyone sign up to these terms??????
The usual answer is that the painter hasn't bothered to read the small print!
If ALL painters in the UK would stick together and simply refuse to carry out works for these Principal Contractors, the world would be a better place. As it is, there's always some painter willing to sign his soul away in search of the high value contract and profit!!
Regards,
Mark
Painting Estimator-panddonline