Abolish retention fees
I could not agree with Tony Bingham (14 January, page 46) more. There are thousands of subcontractors waiting for their 5% - which is in effect their profit and the mechanism by which they can fund their next job.
Retention should be abolished as it is unfairly weighted to the larger contractor and end client. For example: no tenant to fill the property?Delay the retention. Need extra work completed? Delay the retention.
I am amazed that this is still legal in 2011 and that we must live with their legacy of cheap and ugly townscapes.
However, I also think that - unfortunately - people are so used to it, I don’t believe that local consultation alone can improve it.