A construction project is nearing completion. The walls are finished. The floors are installed. The fixtures are in place. The contractor is preparing for turnover. But there is still one amount that has not been paid to the contractor. Retention money. For many contractors, retention represents a significant amount of money that has already been…

Winning a construction project is often an exciting moment for any contractor. After weeks or months of bidding, negotiations, and discussions, the focus naturally shifts toward mobilization and getting the work started. At that stage, many contractors focus primarily on: The contract itself is sometimes viewed as the final administrative step before work begins. “Pirmahan…