Retention
After the Price for Work Done to Date has reached the retention free amount, an amount is retained in each amount due. The amount retained is halved in the next assessment after Completion of the whole of the works or after take over, and no amount is retained in assessments made after the Defects Certificate is due to be issued.
Retention is applied above the retention free amount, halved at Completion or take over, and ends when the Defects Certificate is due.
A retention bond may be given instead, if stated in the Contract Data or agreed by the Client.
📖 This summary is for reference. For the full, authoritative NEC4 contract text — including all amendments, guidance notes, and flow charts — visit the official NEC website.
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