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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]
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 retainer agreement is a work-for-hire contract.It falls between a one-off contract and permanent employment, which may be full-time or part-time. [1] Its distinguishing feature is that the client or customer pays in advance for professional work to be specified later.
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 ...
The insurance company then invests your money and promises to pay you back through regular installments, either right away or at a future date you choose. These monthly installments are based on ...
Homeowners insurance vs. condo insurance. Buying a condo is more similar to buying a home than a co-op. When you buy a condo, you own the unit and likely need condo insurance to insure it properly ...
A records retention schedule is a document, often developed using archival appraisal concepts and analysis of business and legal contexts within the intended jurisdictions, that outlines how long certain types of records need to be retained for before they can be destroyed. For the retention schedule to be utilized a number of guidelines need ...
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 ...