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Retentions – time to say goodbye?

Construction Law

Guest Editors Jane Hughes and Isobel Moorhouse of Trowers & Hamlins LLP say that despite years of industry campaigning the end of retentions is not in sight. Minimum standards suggested by Build UK have not been taken up by the industry, which is split on the issue, and legislation would be needed to break the impasse.

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Empowering Your Project Team

Construction Business Owner

Empowering Your Project Team ccapoccia Tue, 04/30/2024 - 09:23 In the dynamic landscape of business, the role of the project management team in developing new business has emerged as a linchpin for organizations seeking to improve customer acquisition, growth and customer retention.

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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

In an attempt to hold contractors accountable, many projects use retention holdbacks, also known as retainage. Read on to see how to record retention receivable and payable, and why it can be essential for your business. Read on to see how to record retention receivable and payable, and why it can be essential for your business.

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What is Facade Retention in Building Construction and its Advantages?

The Constructor

Facade retention is a method of building rehabilitation to bring changes to interior of the building structure. Advantages of facade retention in.

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Legal terms explained: Retention

Construction Law

In a construction context, retention typically refers to money that the employer deducts and retains from interim payments due to the contractor as security for the proper completion of the works and/or the rectification of any defects or other non-compliant work.

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Building Efficiency Drives Customer Retention

Pro Builder

Building Efficiency Drives Customer Retention. According to the National Association of Home Builders (NAHB), Thrive reported 26% customer retention by prioritizing third-party certification for major selling points like energy efficiency standards and product performance. Mon, 10/11/2021 - 08:28.

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What Is Retention in Construction | What Do You Mean by Retention Money in Construction | What Is the Purpose of Retention Money

CivilJungle

What Is Retention in Construction? The meaning of term Retention in Construction can be described as a percentage of amounts that are certified as due to the contractor on an interim certificate, that is deducted from the amount due and retained by the client in construction related works.