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Government consults on cash retentions in the construction industry

Research output: Contribution to specialist publicationArticle

Architects are being encouraged to support the introduction of a retentions deposit scheme aimed at putting an end to the practice of payments being withheld for an unreasonable length of time, and to eliminate altogether the risk of losing retentions through contractor bankruptcy. According to the government’s own figures, almost £8 billion of cash retentions have remained unpaid over the last three years. In 2015, it is estimated that £45m worth of cash retentions
were lost to supply team members because of upstream insolvencies.
Original languageEnglish
Number of pages4
Issue numberJanuary 11, 2018
JournalRIBA Members Newsletter & Website
PublisherRIBA
Publication statusPublished - 11 Jan 2018

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