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What Is a Snagging List?

A Snagging List is a checklist of minor defects, unfinished items, or small adjustments that need to be completed before a construction project is considered fully finished. It is usually prepared

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What Is a Defects Liability Period?

A Defects Liability Period (DLP) is an agreed period after a construction project has been completed during which the contractor is responsible for correcting defects that result from faulty workmanship or

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What Is a Provisional Sum?

A Provisional Sum is an estimated allowance included in a quotation or construction contract for work that cannot be accurately priced at the time the quote is prepared. It covers work

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What Is Contract Retention?

Contract retention is a percentage of the contract value that is held back until construction work has been completed to the required standard. It acts as a form of security for

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