Payment of Construction Retentions
All Councils should be looking to pay over-due retentions to business as a matter of Urgency, where these are not due they should look at amending contracts to allow early payment of retentions with contractors still being liable for any defects.
Why the contribution is important
This will ease cash flow for SME's in construction. Some companies have a number of contracts that have retention to the same council client and can mount up but the cost of any remedial action is minimal.
by GT on May 05, 2020 at 04:45PM