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I also sub contract and if it is agreed at the initial consultation I don't mind if a 5% retention is held, I prefer if it is not, but if insisted upon that is what I offer as its the standard amount in construction. If there is a defect with the workmanship i will always return to amend anyway.
I don't think it would be reasonable to hold back any major percentage of the final payment for n months without valid reasons. However on some larger commercial projects 5% is kept back for three months and usually it is as the same terms have been applied to the main contractor.
However having seem what a high standard of work that you and of course Mr. T knock out I am sure they will never find any issues / problems.
the main thing i feel is that the job is done 100%. sometimes problems occur , as long as it sorted its ok imo.
if its for a new build or a specific time scale that is important to a customer ( a wedding maybe), in your
level i suggest it is written and highlighted literally & verbally to ensure clarity.
YOU DONT WANT TO LOSE OUT FINANCIALLY............. I ALWAYS STATE : FINAL PAYMENT ON SATISFACTORY COMPLETION. this confirms to me they are happy with my works......
Graeme @ BGS said:
Robin Ainsworth said:
Kieran Ray said: