Don’t let them get away with it. It is your
money and you are entitled to collect it when it is due!
DO YOU want Guaranteed
retention recovery after all your hard earned efforts?
just give us a call on
Retention is money held by
the Employer / Client / Main Contractor as a safeguard against defects which
may subsequently develop and which the Contractor / Sub Contractor
Retention is usually set
at either 5% of the value of the works or 3% in the case of some
Ordinarily there then
follows a period commonly known as the “defects liability period”.
Usually, unless remedial
work is urgent, the works are inspected at the end of the defects liability
period and a schedule of the defects is produced.
The collection of
retention money is not usually on most
What is your actual net profit as a percentage of sales?
If you are like most
Specialist Sub-Contractors, your actual profit after
In most Specialist
Sub-Contracting businesses, attention is focused on the now,
that make the most noise should not necessarily get the most attention.
However, if you set
clear priorities, you can focus on the collection of
Not to mention the inconvenience or manpower
required to achieve the results you require.
In order to improve the
collection of your retention money,
Ø contractual knowledge
Ø good people skills
Ø a degree of assertiveness.
There are many different
contractual provisions but release of the first money of retention is
normally linked to completing the works on site (usually by the Main
The date of practical
completion is important for all sorts of contractual reasons
Herein lies the Problem
of most Specialist Sub Contractors:
Thereby ensuring payment of monies due release to you under terms of the contract.
It is essential to keep
good records and copies of any correspondence your team sends.
At this stage, you need to seek professional use of our retention collection service.
Tried, Tested and Guaranteed to work.
You need to also bear in mind that the Final release of the retention money to the Main Contractor by the Employer / client will depend upon the mechanism in the Main Contractor’s contract with the Employer /client. This may provide for the Employer or his Architect or agent to inspect the works and to issue a Certificate of Making Good Defects which triggers the release of the Final retention.
Clearly before such a certificate can be issued, any defects in the works have to be identified (usually by way of an inspection by the Architect or Employer’s Agent) and then corrected.
As every single element of
the works is being inspected for defects, this will, by necessity, include
the work undertaken by a number of different Specialist Sub-Contractors.
There are some Main
Contractors who, by their very nature and organisational
Unfortunately there will
be a number of Main Contractors who are
There is usually very
little financial benefit to the Main Contractor in obtaining
In theory the Main
Contractor should immediately
The length of time the
contractor can hang on to and utilise these windfall monies to run his
business, will depend upon your ability to chase him for your money.
Some Main Contractors will
only pay out if the
Retention Collection Services
Offer a complete, personal
and professional approach to the
based on a small percentage commission on monies recovered.
No recovery - NO PAYMENT
Our initial percent commission is based on your current retention total, length of time the payment is outstanding and other factors that can be discussed during our initial meeting.
Annual reviews to adjust the percentage commission will be reviewed based on your current annual sales turnover inclusive of retention deduction.
We understand that most companies have sales contracts without retention monies being deducted; therefore to base on an annual gross turnover would be inappropriate.
from your client / s are made to Retention Collection Services
Our commission payment from yourself is required to be paid at the beginning of each month and will be based on a percentage of the total monies received in the previous month.
The following reports (if required) will be available for submission to yourself on a monthly basis:
Full all client
current retention history, inc, Total certified,% & Total due for release,
Ø Current retention details of each client’s individual contract / s.
Ø Current retention Total by individual client.
Ø Current retentions / contract/s being handled by your own Quantity Surveyor /s
Ø Current all client retentions due release by date range.
Ø Current clients with potential problems for none payment.
Ø Current Total and details of clients-monies received to date by 1st and Final payment receipt.
In addition as an alternative to our excellent service a Bespoke computer package is available for sale with full back up / support and in house training.
For further details and an informal discussion
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