New Construction Act – to be pedantic – The Local Democracy, Economic Development and Construction Act 2009.
There is an interesting article on the release of retention monies by James Williams of Pinsent Masons at:
The author outlines three tactics for the Main Contractor
- De-linking the retention to the main contract
- Call my bluff
- Linking the final date for payment with a long-stop
Clearly if you are a subcontractor it is worth knowing these tactics as well!
That brings me on to the question of the Act. It has been in place for over six months, has anyone noticed a change in behaviour?