Retention Recovery
We understand the ongoing struggle contractors face in recovering retention, a pervasive challenge within the UK construction industry. With a proven track record and a commitment to your financial success, we specialise in navigating the complexities of retention recovery.
What is Retention in Construction?
Retention is a common practice in the construction industry where a portion of the contract value is withheld by the client or main contractor until certain conditions are met. This is usually to ensure the completion of the project and address any defects that may arise post-project. However, many businesses face challenges when it comes to recovering these funds.
The Retention Plague in Construction
Retaining funds has become an unfortunate norm for contractors in the UK. Main contractors often choose to either ignore efforts to recover retention or find reasons to delay payment. The typical scenario involves receiving partial payments on practical completion, with the remaining balance scheduled for payment 6 - 12 months later. The grim reality is that contractors frequently find themselves tirelessly chasing after these funds.
Break the Silence Let Us Fight for You
How often have you witnessed a main contractor willingly and promptly pay back retention without any chasing? It's a rarity. We recognise the frustration and challenges you face. If you're experiencing the silence of ignored efforts or encountering excuses for non-payment, it's time to let us step in and fight in your corner.
Fighting For What You Are Owed
Our dedicated team specialises in the recovery of retention. We know that chasing after these funds can be an uphill battle, and we are here to change that narrative. Our proactive approach involves persistent follow-ups, leveraging our industry knowledge to ensure that your retention is recovered promptly and fairly.
Resolution Through Industry Knowledge
In cases where main contractors claim that retention cannot be paid due to a dispute, Hay's Collections steps in with unparalleled industry knowledge. Our team possesses a deep understanding of construction disputes, allowing us to navigate complexities and resolve disputes efficiently. We don't just recover funds; we bring resolution to the table.
Let us help you get the funds you are owed and improve your cash flow.
