The following Construction Q&A provides comprehensive and up to date legal information covering:
Retention is the name given to the amount of money the employer retains from interim payments as security for the future performance of the contractor's obligations and to incentivise the contractor to fulfil all of its obligations. For more information, see Practice Note: Retention of payment in construction contracts.
The release of retention to the contractor varies depending on the specific terms of the contract. Commonly, one half of the retention is released at practical completion, and the remainder after rectification of any defects notified during the defects liability period has been completed. Therefore, a contractor may be entitled to claim the release of part or all of the retention where these milestones occur prior to the issue of a final certificate. Depending on the contract, the contractor may also be required to make an application for payment (for the sum of the retention) in order for its entitlement to accrue.
Depending on the particular circumstances, there are various options which may be open to the contractor if reten
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice Note: Estoppel—what,
What is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House of Lords decision in Re G
This Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the lack of privity, a contract has an indirect effect on a third
Produced with input from Rebecca Cousin of Slaughter and May on market practice.This Practice Note summarises the rules and guidance in relation to parties who are, or may be presumed to be, acting in concert for the purposes of The City Code on Takeovers and Mergers (the Code). In particular the
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.