With most of these contracts, a certain percentage of payment is held back, can range from 12 mths or longer, it acts as an insurance policy, if the work performed fails, in any way, it gives the contractor a chance to return and rectify the problem, or the money Held back, is used to get another contractor to come in and do any Rectification works.
Ann: CVL: Civmec Pursues Altura Lithium for Payment, page-78
-
- There are more pages in this discussion • 68 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
