Retention in Construction | The Good, The Bad & The Alternatives 

Retention, also called “retainage” in the US, is an amount of money “held back” from a contractor or nominated subcontractors during the term of a construction project. This is a unique practice specific to the construction industry, but within the industry, it’s extremely popular.
Most construction contracts dictate that a certain percentage of the contract price (often 5%) is withheld from the contractor until the entire project is substantially completed. This creates cash flow challenges in an already cash-poor industry.
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