I always put a cap on retention, something like $5000. I felt if anything was wrong that the sub did exceeded $5K, then it was my fault for keeping him on site. Also I always told my subs to keep a running total of retention held at the bottom of their weekly re-cap on billing. I once open an account on each sub for the retention held on big jobs which was agreeable by both parties. At the end of year or tax time I would release all of it. Usually on big projects, after 90 days I quit holding retention, by then you knew the sub was working with you and did good quality work. It works for both parties. Keep Safe:Microman
Re: Veex CX310... Flagged as stolen...But it's Not
Member #: 2039
Registered: 1996-2001
Posted:
1090
Name:
MicroMan
Name:
Gary E. Ogden
Company:
Micro Network Svc Grp
Occupation:
Coax-Copper-Fiber-
Location:
Domestic-International
Personal:
Experience:
~59 years
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