Construction Retention Collections

Specialist debt recovery services for the construction industry

Payment terms in the construction industry have special features which differ from other industries. One feature is that a small amount of money, usually between 1.5 and 5%, is deducted from payments and held by the main contractor/employer.

This is known as a retention and is held so that if there are defects in the work, a fund of money is available to put them right. Typically, half of this fund is released on completion of the works and the second half at the end of the maintenance period, which can be over a year after the work was carried out.

This sum of money is invaluable, contributing significantly to the profit margin on most contracts. It is essential that retentions are collected promptly, as chasing payments is time-consuming, ties up staff and requires tenacity and perseverance.

Construction retention collections – how we can help

At Nelsons, our team debt collection advisers have experience and knowledge of the law surrounding retentions and this allows them to collect them quickly and effectively. We will work out when payment is due to you and contact you to agree on when collection should be made.

Our team of experts are recommended by the independently-researched publication, The Legal 500, as being one of the top teams of experts in the country.

The charges for our construction retention collection service are transparent and easy to follow. We offer fixed fee services which are based on the amount due to you.

Testimonials…

"Nelsons...focuses on handling bespoke (rather than volume, process-driven) business-to-business debt recovery mandates from commercial clients, and particularly excels in pre-action collections."
The Legal 500
"Nelsons Solicitors Limited’s ‘brilliant’ debt recovery team comprises debt collectors, credit controllers as well as legal practitioners who assist clients in all debt recovery matters, predominantly in the B2B space and with particular strengths in the consumer debt market..."
The Legal 500 2023
"...The legal services range from the pre-action collection process to the pursuing of court proceedings, the securing of judgments for clients as well as the enforcement of judgments..."
The Legal 500 2023 (Continued)
"...Clients hail from across the UK and cover various sectors, such as healthcare, financial services and engineering. The practice is headed by Simon Key with Kelly Bevan heading the day-to-day practice."
The Legal 500 2023 (Continued)
"We use their debt collection department for debts we struggle to collect. Their system on how to report the debt is very quick and easy. They keep you informed with all correspondence to the debtor..."
Referee feedback provided to The Legal 500 2023
"...The debt collection department is very knowledgeable on how to pursue the debt. Their billing is very straight forward where they deduct any costs from the money collected which saves you sending payment."
Referee feedback provided to The Legal 500 2023
"Very prepared and client oriented team. Great communication amongst them, to make sure in case the assigned solicitor has to escalate the matter or is absent for any reasons."
Referee feedback provided to The Legal 500 2023

Contact us

Construction Retention

To talk to one of our debt recovery solicitors in Derby, Leicester, or Nottingham, or for more information about our services for businesses, contact us via our online enquiry form or call 0800 024 1976 for a guaranteed response.