ACR-News
Know what you want? Try our 'Supplier Directory' 

SEC looks to the Olympics as retentions decline

WHILE over 12% of construction contracts, by turnover, are now retention free, the Specialist Engineering Contractors (SEC) Group has voiced concerns that there are still too many contractors insisting on retentions, even though clients are not requiring them.
'Last year, the National Audit Office expressed its disapproval of the practice of retentions by stating that they had an adverse impact on the industry's capacity,' commented SEC Group chief executive professor Rudi Klein.

'My estimate is that over 12% of construction, by turnover, is now a retention-free zone.

'However, I remain concerned that there are still too many lead contractors demanding retentions, even where their clients are not requiring them.'

Professor Klein added that SEC Group awaited a clear message from the Olympic Delivery Authority that retentions will not be used on any Olympic project.

'If trust and collaboration are to underpin Olympic delivery, retentions - which are the antithesis of trust - are wholly inappropriate,' Professor Klein insisted.

The SEC has now updated its list of clients that no longer include retention clauses in their construction contracts.

Latest additions to the full list, which can be found at www.secgroup.org.uk , includes ALDI (food stores), ARENA (housing association), Circle 33 (housing association), DeVere Hotels (on framework agreements for capital projects), the Environment Agency, the Highways Agency, IKEA, Luminar Leisure, and Yorkshire Water.

The IOR Annual Conference – a conference on-demand

Delegates to the IOR Annual Conference taking place from 21 to 22 April will get the chance to access the event live and all sessions and recordings for up six months afterwards providing fantastic value and allowing anyone registering for the event ...

  01-Apr-2021

Panasonic expands commercial solutions with upgraded nanoe X for better IAQ

Panasonic Heating & Cooling Solutions’ innovative nanoe X Mark 3 generator now comes built-in as standard in two more of its air conditioner ranges - the MU2 90x90 Cassettes and the MF3 Adaptive Ducted Units, which are widely used for various ...

  27-Sep-2023

Sanhua Launches PEV Series Pulse Expansion Valves for Precise Refrigerant Flow Control

The PEV series valves have a solenoid valve structure, allowing flow regulation by pulse width control, ensuring highly accurate and responsive flow control.
  05-Jun-2023
ACR News is the number one magazine in the air conditioning and refrigeration industry. Don’t miss out, subscribe today!
Subcribe to ACR News

Diary

BESA National Conference
ACR News Awards
HVACR Live