Keyword Analysis & Research: when to release retention money philippines


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Frequently Asked Questions

When is the retention money due for release?

[T]he total "retention money" shall be due for release after the defects liability period, and upon final acceptance of the works.

What is the retention money for progress payments?

Progress payments are subject to retention of 10 percent referred to as the retention money. The total “retention money” shall be due for release upon final acceptance of the works.

When should retention monies be released by subcontractors?

The timing of release of the retention amount after work is completed by the subcontractor is sometimes contentious. Many contracts do not allow release of retention monies until certain events under the head contract are achieved.

Can retention money be released prior to the final acceptance of works?

Whether the retention money can be released prior to the final acceptance of works. [T]he total "retention money" shall be due for release after the defects liability period, and upon final acceptance of the works.


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