Peter Aldous MP will introduced a Parliamentary Bill on 9 Jan. 2018 to protect cash retentions in a retention deposit scheme (similar to a tenancy deposit scheme). Project Compass invite you to write to your local MP to express your support for this.
This is an important initiative being promoted by the Specialist Engineering Contractors Group (SEC) Group and their full briefing paper is published below.
Retentions withheld unduly in construction contracts are a significant concern for all in the construction industry including design professionals, whether they are withheld for excessive time or because a contractor goes bankrupt. It has an adverse impact on all and particularly SME’s in the supply chain.
This Parliamentary Bill aims to secure much needed reform. We hope you will help to advocate this change by writing to your MP in support. A letter template for your use is also provided HERE.
FULL TEXT OF THE BRIEFING PAPER PREPARED BY SEC GROUP. November 2017
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