Common use of Delete 12 Clause in Contracts

Delete 12. 3.1 and replace with The Principal shall retain out of the amount which would otherwise be payable to the Contractor, the defects lability retention. The Contractor acknowledges that the defects liability retention, recorded in 12.3.1, 12.3.2 in Schedule 1, is 100% of the total retention. For clarity, it is agreed that the amount to be retained in respect of the Contract Works shall not be reduced upon the completion of any Separable Portion under 10.7.2.

Delete 12. 3.1 and replace with The Principal shall retain out of the amount which would otherwise be payable to the Contractor, the defects lability retention. The Contractor acknowledges that the defects liability retention, recorded in 12.3.1, 12.3.2 in Schedule 1the Special Conditions, is 100% of the total retention. For clarity, it is agreed that the amount to be retained in respect of the Contract Works shall not be reduced upon the completion of any Separable Portion under 10.7.2.