The Retention settings to be applied to individual contracts within the Contract Management module can be found on the “Header” tab of the respective contract.
As shown by the above example, each progress claim (and subsequently invoices) entered against this contract will retain 10% of each invoice, until the threshold of 5% of the contract value has been reached.
If the option ‘Has Guarantee been supplied’ is selected, there will be no retention rules applicable to this contract and all fields in retention settings will be greyed out.
Currently, the retention settings apply to variations.
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If the supplier has default retention percentages, those percentages will be automatically applied to new contracts. Users will need to ensure the retention values on the contract are correct, and adjust if necessary. |
