Home

Latest from New Zealand Construction News

Legal alert… A reminder: bonds in lieu of retentions

The Construction Contacts (Retention Money) Amendment Bill (Bill) passed its first reading on August 6, 2021. It is currently with the Select Committee with a report due on November 25, 2021. The Bill will strengthen and clarify the retentions regime under the Construction Contracts Act 2002 (Act). However, not all retentions are held by way of money in a trust account. This article looks at another mechanism for retentions – a contractor giving a bond in lieu of retentions and the advantages of doing so.

Keep reading

The latest

Regular sections on project updates, workplace health and safety, legal and labour issues, products and materials and more.

Advertising

NZCN is well respected and widely read by those working in the industry. Read the media kit or contact our sales manager.

Subscribe

Be the first to know what’s happening in the construction industry with a print or digital subscription to the magazine.

Contact us

Contact the team at NZCN for any enquiries you have regarding advertising, editorial submissions, or magazine subscriptions.

Get new content delivered directly to your inbox.

Processing…
Success! You're on the list.

By offering an overview of construction, infrastructure and our built environment, New Zealand Construction News reflects the dynamism and vitality of one of New Zealand’s more economically significant industrial sectors.