Retention Recovery and Non Payment

 

Late / Non Payment

The Construction Act 1996 (amended 2009) has made it easier to meet head on some of the spurious claims and payment delaying tactics used by some contractors.

The Act allows subcontractors in certain circumstances to suspend works following the issue of a 'seven day notice'.

The Act, ultimately facilitates the referral of disputes to an adjudication process and the possibility of recovery of unpaid sums.

The Construction Act, however, is far from straight forward and 'claims' may fail to succeed for many reasons. We would always suggest that every effort for the recovery of outstanding payments be made prior to going 'legal'.

Equally, most contractors are also mindful of the Act and a well drafted and timely letter will often suffice.

If you think we may be able to help in regard to Late/Non payment problems that are affecting your cashflow, then please contact us.

Retention Recovery

We can carry out the following:-

-Retention recovery

-Carry out a review of all your outstanding retention monies on a case by case basis and issue you a feasability (of likely recovery) report of our findings

-Our fees are fixed on a sliding scale percentage basis and only payable by you on recovery or partial recovery of outstanding retention as outlined below.

- 10% of the first £2000 of retention recovered

- then 7.5% of £2000 to £5000 retention recovered

- and then 5% of all retention recovered in excess of

£5000.

- There is a minimum fee charged of £175 per any single

retention transaction recovered.

- All these rates are exclusive of VAT to be charged at

the current rate.

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