NEC4 · ECC X16.1
retention free amount
Under Option X16, the Price for Work Done to Date below which nothing is retained. The retention percentage applies only to the excess above it.
On the Aldermere project
At Aldermere, 3% is retained on the Price for Work Done to Date above the GBP 400,000 retention free amount.
Also written as
- retention percentage
Where you meet it
- Module 10: PaymentPractitioner Course
- Module 14: The final assessment and closing outPractitioner Course
- Module 3: What comes off: retention and the other secondary OptionsPayment and Defined Cost
- Module 5: X Options and Z clauses: what to add and what to leave outContract Preparation