Retention is a common term used in construction and represents monies which are entitled to be collected once due. Retention is money held as a safeguarding mechanism against for example, defects which may develop and the contractor may fail to remedy.
Adair is providing a low value construction adjudication service to give UK contractors and subcontractors a simple and cost- effective procedure that will make solving disputes more accessible and quicker for low value claims.
The service will operate in accordance with the ground-breaking CIC Low Value Disputes Model Adjudication Procedure (LVD MAP) procedure and is a direct response to concerns that adjudication had become too costly and complex for smaller amounts.
The service is aimed at disputes where the amounts claimed are for £50,000 or less, and the issues in dispute are relatively uncomplicated. Adair have high-quality adjudicators who have the expertise to deliver the service.