BuildSafe Retention Trust Fund
Contractors, do not let any employer withhold retentions from you unless they are held in trust in a unique BuildSafe Retention Trust Fund Account established just for you for that project. Make the use of a BuildSafe Retention Trust Fund a condition of the employer holding retentions.
The cost is minimal at a mere $100.00 to establish a trust account for each subcontractor and $25.00 per transaction into or out of that account. The cost of using the BuildSafe Retention Trust Fund is nothing compared to the financial hardship that the loss of retentions can cause you as a result of the insolvency of the employer or head contractor.
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