Retention money is a portion of a contract payment withheld by the client until the construction project is completed to ensure that the contractor fulfills all obligations. Typically, a small percentage of each progress payment is retained, accumulating until the project’s completion. This money serves as a security measure, encouraging the contractor to complete the project satisfactorily and address any defects or outstanding work. Once all work is completed and approved, the retention money is released to the contractor. For more information, please contact us.