Tuesday, 13 July 2021, 11:20 am
New Zealand’s leading insurance broker Aon has launched
a new service that enables construction contractors to
free up funds that would normally be retained in
trust during commercial
projects.
Traditionally, retention money
withheld under commercial construction contracts must be
held on trust in the form of cash, or other liquid assets
readily converted into cash, unless a complying instrument
is purchased.
Aon’s Retention Instrument is the
first fully compliant service available in New Zealand which
provides an alternative to holding subcontractor’s
retentions on trust, enabling those acting as head
contractors to legitimately use these funds within their
Press Release – Aon NZ New Zealands leading insurance broker Aon has launched a new service that enables construction contractors to free up funds that would normally be retained in trust during commercial projects. Traditionally, retention money withheld under commercial …
New Zealand’s leading insurance broker Aon has launched a new service that enables construction contractors to
free up funds that would normally be retained in trust during commercial projects.
Traditionally, retention money withheld under commercial construction contracts must be held on trust in the form of cash, or other liquid assets readily converted into cash, unless a complying instrument is purchased.