Browse Forums Building A New House 1 Mar 04, 2014 3:25 pm Hi Everyone. Relatively new to this forum. Me and my partner are currently shopping at the major project builders. I'm a project manager for a tier 1 contractor so knowing my way around building contracts/sites i have a few questions. My major concern is obviously workmanship and final product. Was curious if anyone has been able to place a 5% retention clause in the building contract, or if it happens to be a standard item. As a client i would expect some sort of leverage over defective work through the progress of the build. Re: Project Builders - Contracts 2Mar 04, 2014 3:42 pm I think most of the progress payment structures add up to 100% on completion. Most builders will be upfront about their progress payment schedule so just ask the salesperson but I wouldn't be expecting too many (if any) to allowing you to hold back 5% for any period after completion. A couple of years ago a friend built a garage and granny flat with a custom builder, designed by an architect who also managed the build and their final payment was 1 year after completion. In saying that though their contract price was close to ours which is a 4 bed 3 bath double garage. http://camdenbuild.blogspot.com.au/ by invite only please pm me Re: Project Builders - Contracts 3Mar 04, 2014 3:53 pm Thank you for the reply. I was assuming that would be the case. In commercial we have a 10% retention per claim to 5% the total contract value. Gives leverage to fix defects. As im building with H3nl3y, and hearing some stories i'm just trying to be as cautious as possible. Though doesn't mean i wont ask the question!! MBA and HIA both have sub contract agreements, check them out 2 7535 Industry type domestic contracts are prepared by industry bodies for the benefit of the builders. This means that if you are the owner watch out. One of the points is… 0 3378 Hello, I am currently working on a study in regards to building contracts in Australia. I would like to interview people with their building experience in Australia and… 0 1252 |