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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] An agreement is entered into by the two parties and a third party known as a surety ...
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. The purpose of a retainer fee is to ensure that the employed reserves time ...
Retention or retainage of an agreed portion of a contract price until project completion; Retention basin; Retention election, in the United States court system, a process whereby a judge is periodically subject to a vote in order to remain in the position of judge; Retention rate; Retention ratio, in company earnings; Retention of vision, in magic
No-penalty CDs vs. savings account: How to choose. For many retirees, combining a no-penalty CD and a savings account can offer the best of both worlds. Use a high-yield savings account for funds ...
(Reuters) -U.S. President-elect Donald Trump said on Monday there would be "hell to pay" in the Middle East if hostages held in the Gaza Strip were not released prior to his Jan. 20 inauguration.
A commercial contract is an agreement containing all the work that should be performed for the construction of a commercial building or non-residential building. A skillfully constructed commercial contract can protect both parties' interests, minimize risks, and increase profitability for the contractor.
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.
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