Paragraph 6 Information on retention clausesF1
A statement as to whether there is—
a maximum contract sum below which no retention clause is included in a qualifying construction contract between the qualifying company and its supplier;
a standard percentage rate in retention clauses in qualifying construction contracts between the qualifying company and its suppliers;
a practice of ensuring that a retention clause in a qualifying construction contract between the qualifying company and its supplier is no more onerous than any retention clause in a qualifying construction contract between the qualifying company and its client in that supply chain.
Annotations
Textual amendments
- F1
Sch. 2 inserted (in relation to each financial year of a company beginning on or after 1.4.2025) by The Reporting on Payment Practices and Performance (Amendment) Regulations 2025 (S.I. 2025/75), regs. 1(2)(4), 7
Notes on Schedule 2
Modifications
- C1
Sch. 2 modified (in relation to each financial year of a limited liability partnership beginning on or after 1.4.2025) by The Limited Liability Partnerships (Reporting on Payment Practices and Performance) Regulations 2017 (S.I. 2017/425), reg. 10A (as inserted by S.I. 2025/75, regs. 1(2)(5), 8(3))