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Retention Money Claim

2 replies [Last post]
Tue, 2009-11-03 07:03
Francis Moyalan, ...
User offline. Last seen 5 years 28 weeks ago. Offline
Joined: 12 Feb 2005
Posts: 105
Groups: None
Hi Guys,

Whats the procedure for claiming back the Retention money after the Project completion. In our case we have received the Completion Certificate from the client. Is that mandatory to give a Bank Guarantee for taking back complete Retention money.

Regards,
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Replies

Thu, 2009-11-05 12:40
#1
Samer Zawaydeh
User offline. Last seen 5 years 39 weeks ago. Offline
Joined: 3 Aug 2008
Posts: 1664
Groups: Civil Engineering, Regional Representatives
Dear Francis,

It depends on the Conditions of your Contract. If you Contact is under FIDIC, then you can review the clause the Sanjay Rao referred to.

With kind regards,

Samer
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Wed, 2009-11-04 02:14
#2
Sanjay Rao
User offline. Last seen 5 years 17 weeks ago. Offline
Joined: 17 Jun 2008
Posts: 22
Groups: GPC Qatar
Hi
I think you need to check your contract Clause 14.9, clause 10 & 11 which will guide.
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