EP03 Mastering Retention in Construction Contracts: Insights from RICS Standards

In this episode, we dive deep into the world of construction contracts and retention with guidance from the Royal Institution of Chartered Surveyors (RICS). We'll explore the essential principles of retention, including the legal foundations, reasons for retention clauses, and how they function across different contract types like JCT, NEC, and FIDIC. Learn about common issues such as financing, insolvency, and defects rectification, and gain practical advice on applying retention clauses in real-world scenarios. Whether you're a contractor, project manager, or construction consultant, this episode is packed with insights to help you navigate and manage retention effectively in your projects. YYou can join my free Community "AI for Quantity Surveyors" here : https://aiforqs.app.clientclub.net/