Retention in Construction Contracts - Law, Practice & Reform

Introduction

Retention is one of the most contentious aspects of construction contracts. For payers, it operates as important security against defective work. For payees, it can cause cashflow issues and recovery challenges. With significant reform on the horizon, this live and interactive session explores the current law and practice relating to, as well as the future of, retention.

The Commercial Payments Bill will trigger the retention ban but with the key date still pending, the industry must prepare now. This session gives you the clarity and strategy you need before the countdown begins.

What You Will Learn

This live and interactive course will cover the following:

• The concept of retention
• Retention in standard form contracts
• Treatment of retention
• Deductions from retention
• Retention bonds
• Reporting on Payment Practices and Performance Regulations 2017
• Commercial Payments Bill

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.