Say 'No' to Cash Retention

The No Retention Policy promoted as part of the Fair Payment Campaign is designed to eliminate cash retentions within the construction industry. The Government and other key clients are increasingly rejecting retentions and you should always say ‘No’ to cash retention wherever possible by following the easy to use ‘M-O-N-E-Y’ principle when negotiating your contract.

If a client insists on a form of retention, you can offer a retention bond, whereby a surety will undertake to pay the contractor or client up to the value of the retention that they would have had if your work is shown to be defective.

If you do choose to accept cash retention, always agree a calendar date for its release.