Retention

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Retention

The number of units allocated to an underwriting syndicate member less the units held back by the syndicate manager for facilitating institutional sales and for allocation to nonmember firms. In the context of construction contracts, an amount retained from construction contract payments (5-15% of the contract price) to ensure the contractor completes the construction before the retention is returned.

Retention

Prior to a new issue, the percentage of securities given to an underwriting syndicate to place with investors after making allowances for any underwriters that are not part of the syndicate as well as placement with institutional investors.

retention

The securities that are distributed to members of an underwriting syndicate after accounting for the portion of the new issue retained for sales to institutions and members of the selling group who are not also part of the syndicate.
References in periodicals archive ?
- For external works, the return of the retention money will be at the end of the period of perfect completion.
The rate of retention money will be set in Article Holdback CCSI on subsequent contracts.
Deposits and Guarantees required: No security or retention money will not be required of the contractor.
Deposits and Guarantees required: The contract provides for retention money, the amount is 5% of the contract price plus any amount endorsements.