Glossary
Retention money
Definition
In construction, retention money is the share of each payment the client holds back until final acceptance of the works.
Explanation
In French it is the retenue de garantie. Its rate and release date are set by the contract. The risk for the company is simple: forgetting it. Retention is released months after the site closes, when the team is already elsewhere. Good practice fits in one line: for each project, enter the amount retained and the release date in the tracker, and follow up on that date.
Example
Fictional example. On a 40,000,000 FCFA contract with 5% retention, 2,000,000 FCFA stay with the client until final acceptance. Without a date in the tracker, that money may never be claimed.