When is the contractor entitled to recover the retention money or the bank guarantee?
Legal Answer
Radiif AI Legal Assistant
⚡ Quick Answer:
The contractor is entitled to recover the retention money and the bank guarantee upon fulfillment of the agreed contractual conditions for their release, such as the issuance of Provisional Acceptance Certificates or the conducting of the joint final inspection.
Legal References & Citations
البند رقم ٦ من المرفق ’ج’ الخاص بـ" الاحتجاز والمدفوعات النهائية" من عقد المشروع
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