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Retention reform nears

Language: English Series: Contract Journal ; 372(5963) 10 March 1994, 3(1)Publication details: 1994Subject(s): Summary: The JCT is about to make contractual changes that could end the much criticised retention system. A working party has drafted a compromise clause allowing insurance-backed performance bonds to be used as an alternative to retention in JCT 80.

The JCT is about to make contractual changes that could end the much criticised retention system. A working party has drafted a compromise clause allowing insurance-backed performance bonds to be used as an alternative to retention in JCT 80.