Notice of Delay in the release of the retention (1st part)

Our Ref: xxx

Date:

To

xxx Contracting LLC

P. O. Box xxx

Dubai, U.A.E.

Attention            : Mr. xxx, Group Procurement Manager

Project                 : Design and Build of Coastal Village Residential Building.

Subject :     Notice of Delay in the release of the retention (1st part)

Dear Sir,

In accordance with our Subcontract agreement ref: xxx, Appendix 9 – Price and Period for completion, F-Retention, 10% of the value of the works done, with a maximum of 10% of the Price which shall be released as follows:

1. 5% after completion of full Delivery of all Pods
2. 5% on Performance certificate or 24 months from full delivery whichever is Earlier

The last pod has reached your site on 5 January xxx.

Accordingly, 5% retention payment amounting to AED xxx has now been overdue for more than one year and this is causing undue financial damage to M/s xxx (Contractor Name).

You are requested to release this overdue amount within seven (7) days.

Yours faithfully,

On behalf of xxx LLC                                                                      

xxx

project Manager