The retention fund is the contractor`s
Powell-Smith, V.
The retention fund is the contractor`s - 1991 - Contract Journal 358(5831) 25 July 1991, 7(1) .
Highlights another case, JF Finnegan Ltd v Ford Sellar Morris Developments Ltd 1990 unreported, which settles the status of a retention fund as being the contractor`s monies and should be kept in a separate bank account. The contractor is entitled to ask at any time for such placement in a separate bank account, in spite of JCT 1981 cl 30.4.2.2, which stipulates this request should be made only when an interim payment is made.
BUILT ENVIRONMENT-BUILDING CONTRACT FORMS
WATES CONSTRUCTION LTD V FRANTHOM PROPERTIES
The retention fund is the contractor`s - 1991 - Contract Journal 358(5831) 25 July 1991, 7(1) .
Highlights another case, JF Finnegan Ltd v Ford Sellar Morris Developments Ltd 1990 unreported, which settles the status of a retention fund as being the contractor`s monies and should be kept in a separate bank account. The contractor is entitled to ask at any time for such placement in a separate bank account, in spite of JCT 1981 cl 30.4.2.2, which stipulates this request should be made only when an interim payment is made.
BUILT ENVIRONMENT-BUILDING CONTRACT FORMS
WATES CONSTRUCTION LTD V FRANTHOM PROPERTIES