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:
- 5% after completion of full Delivery of all Pods
- 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
