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DRAFT RETENTION MONEY GUARANTEE ON DEMAND Beneficiary name and addressPlace and dateRetention Money Guarantee no. We refer to the contract/agreement no. dated date regarding delivery of description

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What is retention money guarantee no?

Retention money guarantee no is a unique identification number provided to a guarantee obtained by the contractor during a construction project.

Who is required to file retention money guarantee no?

The contractor who has been awarded the construction project and is required to provide a retention guarantee is responsible for filing the retention money guarantee no.

How to fill out retention money guarantee no?

To fill out retention money guarantee no, the contractor needs to provide relevant details such as project information, contractor information, guarantee amount, and duration of the guarantee. This information is usually submitted through a specified form or online portal.

What is the purpose of retention money guarantee no?

The purpose of retention money guarantee no is to ensure that a certain percentage of the contract value is retained by the employer until the satisfactory completion of the project. It serves as a financial security for the employer in case of any default or non-compliance by the contractor.

What information must be reported on retention money guarantee no?

The information that must be reported on retention money guarantee no includes project details (such as project name and location), contractor details (such as name and contact information), guarantee amount, duration of the guarantee, and any specific terms and conditions.

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