Trends in Retentions and Construction Contracts with Simon Howell-Tarmac and Giuseppe Parla-Menzies

Register for our newsletter for regular updates of events and webinars. https://www.top-service.co.uk/contact-us/ (newsletter link at bottom of page) In this episode of Minimise Debt, Maximise Cash, Top Service CEO Emma Reilly brings you key insights from the "Managing Retentions" webinar, featuring industry heavyweights Philip King, Simon Howell (Tarmac), and Guiseppe Parla (Menzies). Retention payments remain one of the most contentious issues in construction finance. Our panel discusses whether they are here to stay, how to safeguard them, and the critical processes you need to ensure you get paid. Key Topics Covered: Retention Trends:  Are retention clauses appearing more or less frequently in contracts? Simon Howell notes a shift in government contracts but warns that Tier 2 and Tier 3 markets still heavily rely on them. Risk vs. Reward:  Guiseppe Parla highlights the danger of removing retentions entirely, as they often ensure quality, but warns that holding onto them without proper accounting is a major risk if insolvency hits. Best Practice for Subcontractors:  Why recording retentions in a  separate ledger  and automating diary reminders is the #1 way to ensure successful recovery. The Profit Margin Reality:  Philip King reminds us that for many small subcontractors, the retention amount equals their entire profit margin—losing it is not an option. Whether you are a contractor negotiating terms or a credit manager chasing final payments, this episode provides the expert advice you need to manage retentions effectively. Featured Guests: Philip King  (Moderator) Simon Howell  (Tarmac) Guiseppe Parla  (Menzies) Keywords: Retention Payments, Construction Contracts, Insolvency, Credit Management, Subcontractor Finance, Tarmac, Menzies, Cash Flow. Subscribe to Minimise Debt, Maximise Cash for your monthly construction credit update. To enquire about Top Service services for your Business, go to https://www.top-service.co.uk/contact-us/ Music by Purple PlanetRead transcript