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Release Security

Release Security

Owned by Jane Padgett
Last updated: Apr 04, 2025 by Rebecca David

Only Budget, CA Project Admins or Contract Author’s Company can release retentions. For more informationModule Administrators

Release Retention

Practical Completion

The contract needs to be in “open” status in order to release retention.

  1. To release retention, respond to the completed contract

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  1. Tick Practical Completion and fill in date

  2. Tick the Release Retention box

  3. Submit

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  1. Create a Progress Claim

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  1. Change the Status as required

  2. Address the Collaborators

  3. Select the retention line

  4. Fill in amount to be released

  5. Submit

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  1. Once approved you can issue the Progress Payment Certificate

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Final Completion

  1. To release the final retention amount, respond to the contract

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  1. Change the retention percentages to zero (0)

  2. Tick Final Completion Achieved and fill in date

  3. Submit

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  1. Create Progress Claim

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  1. Change status as required

  2. Address the Collaborators

  3. Select the Retention Line

  4. Fill in the final amount to be released

  5. Submit

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  1. Once approved you can issue the Progress Payment Certificate

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Bank Guarantees

Practical Completion

  1. Respond to the Contract

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  1. Reduce the Bank Guarantee held values

  2. Tick Practical Completion and fill in date

  3. Submit

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Final Completion

  1. Respond to the Contract

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  1. Change the Bank Guarantee held values to zero (0)

  2. Tick Final Completion Achieved and fill in date

  3. Submit

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