I am planning to engage an ID who is going to manage everything (i.e. an all-in package). Is it common practice to withhold, say, 5% of the total payment until after the warranty period?

If the warranty is for 12 months, I’ll release the final 5% on month 13. Is this done at all?

Thanks all!

George Loke

Thanks guys.

I was wondering if this is common practice, and if it is, what is the usual amount.

Is “retention money” the standard term?