When Is Retention Released?

These are first released at the completion of the project. The remaining percentage of funds are released at the end of the Defects Liability Period or another contractually nominated date.

When should retention money be released?

Usually, retention monies in construction works are released in two stages of the project. Release of the First Half of the Retention Monies is released at the time of issuing the completion certificate.

What is retention release?

Release of retention is another important term or milestone in any construction contract which is also an indication of completion of the scope of the project up to the mentioned stages. Usually, retention monies are released in 2 stages of the project.