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Retention Bonds 2011 The following bonds have been agreed between the JCT and the British Bankers Association: for use with SBC 2011 for use with Scrub & Scrub/D 2011 for use with DB 2011 for use

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What is retention bond template?

A retention bond template is a standardized document used to outline the terms and conditions under which a bond is retained as security for the completion of certain obligations, typically in construction projects.

Who is required to file retention bond template?

Contractors and subcontractors who are involved in projects requiring a retention bond are typically required to file the retention bond template.

How to fill out retention bond template?

To fill out a retention bond template, provide the necessary details such as the bond amount, project specifics, parties involved, and any conditions that must be met for the bond to be released.

What is the purpose of retention bond template?

The purpose of a retention bond template is to ensure that funds are available to cover potential claims for unfinished work or defaults on a project, thereby protecting the interests of project owners.

What information must be reported on retention bond template?

The retention bond template typically requires information such as the names and addresses of the parties, the bond amount, project details, effective dates, and conditions for the release of the bond.

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