Releasing Retentions on Head Contract

When it's time to release retention amounts within your Head Contract, you can release these when you are creating your Head Contract Claim.

Release Retentions

To release retentions on a Head Contract, follow these steps:

1. Start at Payment Claims > Head Contracts.
2. Select the required Head Contract.
3. From the Claims tab click Add Claim. 

4.   In the Claim, click the Retention tab.

You will see a summary of your contracted amount, total retention amount (as of previous claim, this amount will not reflect any retentions being created via this claim), released retention amount and outstanding retention amount. 

From here you can then enter the retention amount to be released.

5.   Save and return to the Trade Summary tab.

6.   You then follow the same steps as creating any other claim, marking the Claim as prepared, then approved, and the invoice the claim. 

This will do two things:

1. Add a retention amount in the summary in the retentions screen.
2. Produce an invoice for the retention you are claiming.
   If you have claimed for values from other contracted lines as well as retentions, one invoice will be created for both.

You can view a summary of the Retentions against each Head Contract by selecting the Head Contract you want and clicking the Retentions tab. Here, you will see a summary of the retentions you have claimed so far, how much is outstanding etc.

If you are creating a claim for your other contracted lines, you cannot claim the retentions created from this claim. These will be available for you to claim via the next claim you create the following month.

When the work on your project is finished and you are at the point when you have claimed everything you will need to, you can create a Final Account. Find out more about this process here.

Last updated: 18 September 2023