000			01200cam a2200205 4500
001			ABS66492
008			030401n2003 000 0 eng u
035			_a(Sirsi) u121841
100			_aMaycock, T.
245			_aRetention money - a necessary evil or a pernicious device?
260			_c2003
490			_aConstruction Law Bulletin _v March 2003, 21-23(3)
520			_aReports on the advantages and disadvantages of the retention system in the light of the release of the House of Commons' Trade and Industry Committee report "The use of retentions in the UK construction industry". Advantages highlighted include the provision of a fund for rectifying defects and an incentive to a contractor to remedy defects. Disadvantages include that a contractor may not be paid in full for satisfactory work and it may present cash-flow problems for a contractor. Alternatives such as bonds, guarantees and insurance were discarded and the committee concluded their use must continue until a viable replacement is devised.
590			_aABS
650			_aRETENTIONS
650			_aBUILDING CONTRACTORS
650			_aDEFECTS LIABILITY
690			_aBUILT ENVIRONMENT-BUILDING PATHOLOGY
942			_n0
999			_c72401 _d72401