Stories

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.

Concrete solution: Youngman Richardson given the green light

The recently completed Richmond Countdown supermarket is set to be the first of its type in New Zealand to be accredited by the internationally recognised Green Star rating system. Youngman Richardson were an important part of the construction process along with concrete contracting company Concrete Sealing & Grinding NZ.

Civil Contractors: ‘Long overdue’

Civil Contractors has responded to the National 30-year Infrastructure Strategy released by the New Zealand Infrastructure Commission Te Waihanga. The strategy is intended to set a blueprint for the country to address its massive infrastructure deficit, improve resilience and streamline infrastructure construction.

Rising to the challenge… Ministry of Green Works for New Zealand

Two of the biggest crises of our times – housing and climate change – could be the target of a new Ministry of Green Works that would integrate important responsibilities related to safeguarding New Zealand’s future, according to a report released today by First Union.

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