The concept of giving a cash retention to secure the services of a professional power float user or other flooring contractor is outdated and should not continue, says the Contract Flooring Association (CFA).
According to the CFA, its members are permitted to negotiate terms within their contracts if they so choose; however, they should no longer accept cash retentions.
This is because the association has signed up to the National Specialist Contractors' Council's (NSCC) No Retention Policy.
"NSCC believes that the withholding of retention is an outdated practice which is unnecessary in the modern construction industry," the policy states.
As such, professional power float users may want to consider incorporating other terms into their contracts to perform the duty originally served by retention.
The CFA's membership comprises flooring professionals engaged in carpeting, hardwood and smooth coverings, along with sub-floor screeds and in-situ flooring, along with a special type of membership reserved for consultants acting within the industry.
Posted by Charlie Parkin
According to the CFA, its members are permitted to negotiate terms within their contracts if they so choose; however, they should no longer accept cash retentions.
This is because the association has signed up to the National Specialist Contractors' Council's (NSCC) No Retention Policy.
"NSCC believes that the withholding of retention is an outdated practice which is unnecessary in the modern construction industry," the policy states.
As such, professional power float users may want to consider incorporating other terms into their contracts to perform the duty originally served by retention.
The CFA's membership comprises flooring professionals engaged in carpeting, hardwood and smooth coverings, along with sub-floor screeds and in-situ flooring, along with a special type of membership reserved for consultants acting within the industry.
Posted by Charlie Parkin