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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

Parts Town UK partners with York to offer quality heating and cooling solutions  

Parts Town UK has formed a new partnership with York. As an approved partner, Parts Town UK stocks a wide range of York spare parts, including air and condenser filters, capillaries, steam generators, compressors and contactors....

  06-May-2025

Sanhua’s REVOlution for supermarket refrigeration

SANHUA is proud to present its latest innovation in refrigeration technology – the REVO series of controllers. Designed to provide a wide range of applications, the REVO controllers offer high performance and efficiency, ensuring that your refrigerated cabinets maintain optimal conditions for fresh food preservation.
  02-Apr-2025
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