Blog

They think it's all over... but it's not yet!

Just when you think you're winning why is there usually more work to do to get the end of the contract? Keeping better track of your post-completion contract obligations will definitely make extra time far less painful!

There are quite often a number of obligations you are still required to carry out even after you've completed the works and cleared the site before you're entitled to the final payment.

Don't assume you can always simply leave site and return only if your employer complains of a problem with your work in the not too distant future - that will often only be part of what the contract requires.

Fortunately, there are far more effective solutions to meet the requirements for full retention payments, and ones that will certainly keep you aware where your money is been held and when its due to you!

By keeping ledgers of the current retention periods and the status of defect corrections, you can ensure your recovery of retention funds is maximised. And we can do this for you with our Retention Fund Management service.

How Retention Fund Management works

This is a service that keeps a ledger of retentions due, monitoring defect correction and chasing down debtors. The key benefit is to provide Contractors and Sub-Contractors with better retention recovery and control, supported with regular advice to management on commercial and accurate accounting for non-recoverable book debts.

Ultimately it keeps better track of what you are due to prevent disputes and reduce your stress levels. It also ensures you receive more of what's due to you in good timescales.

Part of our Bundle of Services

Retention Fund Management is a key part of our Bundle of Services designed to help Sub-Contractors and Contractors protect themselves across the board in construction projects, helping to ensure their services can be delivered as promised with the minimum fuss or risk of financial loss.

These start before you agree to work on the project with our Contract Vetting service and also includes services for Project Liability Auditing and Final Account Control, right through to Retention Fund Management at the end.

For a free initial consultation regarding any of our services, contact Quantum CPM on 0161 974 6655 or email .

Find out more about our Bundle of Services.