As we all know, retention is the proportion of money that the Client/Principal Contractor holds back as a 'lever' to persuade the sub-contractor to correct any defects that might become apparent after the contract has been signed.
A typical retention figure is 5% of the certified contract value. Half of this is released upon 'practical completion' of the project and the other half, after the defects libility period, providing the sub-contractor has corrected defe
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