What Is Retention In Construction? - Civil Engineering Explained
What Is Retention In Construction? In this informative video, we’ll cover the important concept of retention in the construction industry. Retention is a financial measure integrated into construction contracts that plays a key role in ensuring the quality and timely completion of projects. We’ll explain how retention works, including the standard percentages typically withheld from progress claims and the rationale behind this practice. You’ll learn about the stages of retention release, including the significance of practical completion and the Defects Liability Period (DLP). We’ll also discuss how retention affects cash flow for contractors and the importance of careful planning to manage working capital effectively. Additionally, we’ll highlight the benefits of using project management software to streamline retention calculations and tracking. This video is essential for contractors, project managers, and anyone interested in understanding the financial aspects of construction projects. Join us as we break down retention and its impact on project success. Don’t forget to subscribe to our channel for more informative content related to civil engineering and construction management. ⬇️ Subscribe to our channel for more valuable insights. 🔗Subscribe: https://www.youtube.com/@CivilEnginee... #ConstructionRetention #ConstructionContracts #ProjectManagement #CivilEngineering #ContractorTips #QualityAssurance #DefectsLiability #RetentionFunds #ConstructionFinance #CashFlowManagement #BuildingProjects #ConstructionIndustry #ProjectSuccess #RetentionRelease #ConstructionBestPractices About Us: Welcome to Civil Engineering Explained, your friendly source for all things related to civil engineering. Whether you’re a student, a professional, or just curious about the world of infrastructure, this channel provides clear and accessible content to help you grasp essential concepts and practical applications in civil engineering. Please note that the content shared on this channel is for informational purposes only and should not be taken as professional advice. Always conduct your own research and due diligence when applying any concepts discussed here.
