Today is the last day to take part in the H&V News retentions survey, launched for readers to reveal the impact of retention clauses in contracts.
The online survey consists of six multiple choice questions and follows Professor Rudi Klein’s article (H&V News 13 Feb, p42), highlighting the issue of how many subcontractors had lost thousands of pounds in retention monies when the main contractor had gone into liquidation.
The results of the survey will be published in a future issue of H&V News and shared with Professor Klein to support action to address the issue.
A previous H&V News survey on the issue of retentions showed that 57 per cent of respondents had lost retentions on up to 10 contracts.
Professor Klein is also appealing for details of MPs expressing an interest to help with this issue and can be contacted by email at email@example.com.
“There cannot be anything more galling than seeing your £50,000 retention disappear as your payer falls prey to insolvency,” Professor Klein said.