This session unpacks the complexities of construction retentions, what they are, how they function under major standard forms of contract like JCT and NEC4, and why their release is crucial for contractors' cash flow. Michael will guide attendees through key legal interpretations, common contractual amendments, recent regulatory changes, and practical strategies for securing timely release of retentions. Whether you’re a Contractor, Subcontractor, or construction professional navigating retentions and defect liability periods, this session will deliver valuable insights and actionable advice.
This session covers:
Understanding retentions and how they are used
Different forms of Contact
Getting retention released
Common amendments to the standard forms and pitfalls
