Retention is a percentage of the total amount due withheld by the client in every progress claim until the contractor completes all the work required of him under a contract.
To claim your retention, do the following steps:
1. Go to your project then enter the Payment Claim System by clicking the Create button on the PCS tile.
2. From your PCS Dashboard, go to payment claim form by clicking any of the following options:
3. Go to the Retentions Claimed table in the Payment Claim form and set the percentage of your Total Retention Amount that you want to claim.
You will only be able to claim if you have already an amount for your retention.
4. Click Submit and you're done!
5. Your Retention Claims are displayed on the following locations:
a. Claimed Breakdown - Scroll down the PCS Form and click on the View Breakdown button on the Summary table.
Row L displays the GST or your Retention Claim.
b. Payment Claim Template: Summary Table - Submit your claim and you will find the table on the first page of the Payment Claim template.
c. Payment Claim Template: Retentions Claimed Table - Submit your claim and you will find the table under Attachment 3 of the Payment Claim template.
d. Payment Claim Template: Tax Invoice Table - Submit your claim and you will find the Tax Invoice on the last page of the Payment Claim template.
3. View the retention summary of your projects in the Retention Report.