Retention
Retention is the part of each certified payment a client keeps back as security that the contractor will finish the work and correct defects. It is commonly released in parts, for example half at handover and the balance after the defects period, as the contract sets.
Where you meet it
Work out amounts with the retention calculator and see VAT effects with the payment certificate calculator. Related: payment certificate.
How SupaJack Construct handles it
In SupaJack Construct the amount held is always the sum of what each certificate withheld, never a figure typed in, and each release is applied for, certified and invoiced on its own, so the retention still owed can be traced certificate by certificate.