Clause 4.14.2.3 states retention is not held/ retained on “the amount of any loss and/or expense to which the contractor is entitled under clause 4.20.1 or 5.3.3 or by Confirmed Acceptance”.
Is this ‘assessed’ entitlement or ‘ascertained’ entitlement and is this in relation to all costs under all heads of claim in relation to L&E?
My question relates to the scenario whereby it is not disputed that the contractor has incurred direct loss and expense as a result of a client delay (a relevant event and relevant matter), the value of which has been assessed by the QS and agreed by both parties. Is retention held on that sum?