It is common in building agreements for the “employer” to hold back some monies due to the builder/contractor under the contract. This money is known as “retention money”.
We’re coming in! Don’t shoot!
The credit crunch is causing an increase in company liquidations. The Office of Director of Corporate Enforcement has noted, in its latest Press release, the occurrence of 40 company insolvencies in April 2008 compared with 30 per month in late 2007.