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11 Oct 2016 ... retention is related to the completion of the work finished and successful handover of the project performance is related to the meet the targeted ...
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What is in lieu of retention?
In lieu of retention refers to a substitute for keeping a holdback amount for a construction project.
Who is required to file in lieu of retention?
Contractors and subcontractors may be required to file in lieu of retention.
How to fill out in lieu of retention?
In lieu of retention forms can typically be filled out online or submitted physically to the appropriate authority.
What is the purpose of in lieu of retention?
The purpose of in lieu of retention is to provide financial security to the project owner without tying up funds during the construction process.
What information must be reported on in lieu of retention?
In lieu of retention typically requires details of the project, the amount being substituted, and the parties involved.
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