In construction, a bond is a financial guarantee that a contractor will complete a project according to the terms and conditions outlined in the contract.
16 June 2018 Read more
section 4E
In the majority of contracts the retention amount would always be 5%. There might be rare exceptions where particular concerns…
16 June 2018 Read more
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.
16 June 2018 Read more