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What is meant by the term “Retention money”?

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$$\text{Cash Received} = \text{Value of Work Certified} \times (1 - \text{Retention Rate \%})$$ Retention money acts as a vital safeguard, incentivizing contractors to resolve defects quickly.

Updated On: Jun 17, 2026

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What is meant by the term “Retention money”?

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Solution and Explanation

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