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A retention bond is a form of performance bond or insurance against defects, taken out by the contractor at the request of the client, or by a subcontractor at the request of the contractor, seen as being fairer and more efficient than a cash retention. [19]
These records may include: Your insurance ID card. This document acts as proof of insurance. It must be provided at the request of a police officer or when you are involved in an accident in many ...
In the United States construction industry, contract agreements are usually written to allow the owner to withhold (retain) the final payment to the general contractor as "retainage". [3] The contractor is bound by the contract to complete a list of contract items, called a punch list, in order to receive final payment from the owner.
A retention period (associated with a retention schedule or retention program) is an aspect of records and information management (RIM) and the records life cycle that identifies the duration of time for which the information should be maintained or "retained", irrespective of format (paper, electronic, or other). Retention periods vary with ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
Retention equals the number of employees who stayed for the whole period divided by the number of employees you had at the start of the period. Multiply the result by 100 to get your retention rate.
Records management is the process of ensuring that in whatever form, records are maintained and managed economically, effectively and efficiently throughout their life cycle in the organization. Information governance is the protection of records from access by individuals that are not supposed to access the records.
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