WebApr 12, 2024 · That retention is supposed to cover the cost of putting things right in the event that the contractor, say, doesn't meet its obligations under a contract. The amount is usually a percentage of the contract sum. The main advantage of cash retention is that, despite being a fairly crude method, it is relatively easy to calculate and administer. WebAug 20, 2024 · According to Harper James Solicitors, a data retention policy “specifies how you manage the data you hold”. The aim is to avoid a situation where a company is hanging on to years - or even decades - worth of consumer records for no reason, simply because the cost of holding that data is close to zero. While GDPR has certainly been portrayed ...
New RICS Guidance for Risks, Liability and Insurance April 2024
WebMar 8, 2024 · RICS comment. Steven Thompson, RICS senior specialist in construction standards, writes: 'RICS agrees with the direction of travel towards the removal of retention from construction projects and we encourage members to recommend this to their clients, while at the same time acknowledging the importance of contractors and the supply chain … WebApr 5, 2024 · RICS Journals provide insights from experts across key industry issues within the built environment, construction, property and land surveying sectors ... Legal attempts to abolish the practice of retention have made slow progress – so what other contractual approaches are available, and how effective are they? frescano infotech
What are the alternatives to retention? Journals RICS
WebMar 1, 2013 · RICS develops and enforces leading international standards to protect consumers and businesses, ensuring the highest level of professionalism. The regulatory functions of RICS relating to Standards and Professional Development are led and … WebRICS standards Retention Retention This guidance note introduces the subject by looking at the general principles of retention, including areas such as law; reasons for introduction … WebRICS Professional Guidance, UK 1st edition, guidance note Retention 1st edition, guidance note This guidance note introduces the subject by looking at the general principles of retention, including areas such as law; reasons for introduction within a contract; levels of retention, and how amounts are deducted, certified or released. fresca 36 vanity