How to claim your retention 

The payment of a retention due back to a subcontractor (party B) follows the standard process – this is that the retention payable by the party A to party B is as per the Construction Contracts Act (CCA).

Retentions protected by the Retention Instrument are available to party B when:

• The insurer is aware and has agreed to secure the Relevant Retention Amount via the Retention Instrument on the most recent Retentions Schedule;

• Party A refuses to repay a protected Relevant Retention Amount due to Party B; or

• Party A is unable to repay the Relevant Retention Amount to Party B.

• Party B is the Beneficiary of the Retention Instrument;

• Any retention that is being claimed via the Retention Instrument must be unencumbered and relevant process under the CCA complied with first.

The terms and conditions of the Retention Instrument policy issued by the insurer prevail at the time of claiming your Relevant Retention.

The below Schedule 2: Form of Demand must be completed to claim your Relevant Retention.

Download the Schedule 2: Form of Demand here.

Once completed, please send the form to:
tradecreditclaims@qbe.com

Or post to:
QBE Insurance (Australia) Ltd
Level 21, QBE Centre 125 Queen Street
Auckland 1010
 
PO Box 44
Auckland 1140
 
c/o: Trade Credit Division