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10% retention

Post by hanidtampus on Wed Jul 07, 2010 1:07 pm

A 10% retention money shall be deducted from progress billing. How about for one time payment?

For projects with progress billing, supposing we have w/hold a total of P100K as retention, how much would be the equivalent surety bond as its replacement?
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Re: 10% retention

Post by riddler on Wed Jul 07, 2010 1:19 pm

hanidtampus wrote:A 10% retention money shall be deducted from progress billing. How about for one time payment?

For projects with progress billing, supposing we have w/hold a total of P100K as retention, how much would be the equivalent surety bond as its replacement?

One time payment, progress billing retention, or replacement of retention by surety bond, the Retention shall always be 10% of the Contract. Very Happy
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