Instruct us to Collection Retentions
Glenwood are highly skilled and experienced when collecting retention payments. Over the years we have successfully collected millions of pounds worth of retention across various scenarios.
Our Account Directors are familiar with Construction Act legislation for retention under the old scheme pre 1st October 2011 where claims are dependent on issue of the Making Good Defects Certificate and post 1st October 2011 for the new scheme. In the new retention scheme release has be de-linked from the main contract and a specific retention release date must be stipulated.
We help sub-contractors improve their cash-flow by offering the following services.
White-Label Collection Option
Our team can act on behalf of your brand and business to collect retentions. We use our professional letters, emails and calls to collect.
This is best for clients who are struggling to collect due to time or other constraints
Debt Collection Option
For when you are struggling to collect retentions our team can collect as Glenwood Debt Collection.
This is best for clients who are struggling to get main-contractors to pay their retentions that are due.
Why Sub-Contractors despise Retentions
Often 2.5% of the turnover of a project is held by the main contractor for a year or more post completion of the project. In a recent Construction News survey, subcontractors confirmed that one third of retention’s held were overdue for release.
Increases Risk of Lost Monies
Retention increases the likelihood of monies being lost as a result of main contractor insolvency. This, along with the burden of managing retentions and requesting payments has led to numerous sub-contractors losing out.
Problems include keeping records on outstanding retention, chasing release of retention at the end of the defects liability period (also known as the rectification period) and trying to find out who is responsible / has the authority to release retention a year or more after a project is completed
How we help our Clients manage Retentions and improve Cash Flow
Sector & Process Experience
With our extensive sector experience, we deeply understand the intricacies of construction retentions. Our process, developed over numerous engagements, is designed to efficiently and effectively recover your rightful funds.
Dedicated & Professional Team
At the heart of our construction retention collection service is a team that stands unmatched in dedication and professionalism. Every member is committed to upholding the highest standards, bringing both expertise and understanding to each engagement.
No Administration & Low Fees
We believe in transparency and value for our clients. Our approach is refreshingly straightforward: zero administration burdens and competitively low fees. By stripping away unnecessary overheads and complexities, we ensure you receive efficient, cost-effective services without compromising on quality.
Instruct us to Collect Retentions
We can collect on any retention that has passed its payment date. The sooner you instruct us to collect, the higher the chance of a successful collection, so do not wait!
Head Office - Glasgow
First Floor, 9000 Academy Business Park, Gower Street, Glasgow, G51 1PR
No 2 Wellington Place, Leeds, West Yorkshire, LS1 4AP
Ormond Building, 31-36 Ormond Quay Upper, Dublin 7D07 N5YH
Call us: 0141 465 9016
Email us: firstname.lastname@example.org