Clause 14.9 Payment of Retention Money-Understanding Clauses in FIDIC ‘Conditions of Contract for EPC/ Turnkey Projects’ First Edition 1999.
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•Retention money is held as a percentage of interim payments. ...
•Retention money is held as a percentage of interim payments.
•Retention money is returned in parts after issue of taking over certificate and after expiry of defects notification period.
•In lieu of retention as percentage of interim payments, the contractor can issue a retention guarantee as agreed by the parties.
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