11:42 05 Jul 2002
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The Specialist Engineering Contractors' Group (SEC) Group has unveiled its plans for the future following its split from the Constructors Liaison Group earlier this week.
According to SEC Group executive secretary John Nelson, it is time to tackle the retentions issue and take forward the principles of the Strategic Forum's 'Accelerating Change' document.
Nelson said that the SEC has already gathered evidence as to why retentions are no good for the industry which will be reviewed by a select committee inquiry in November.
This includes the impacts of insolvency on retentions, the experiences of clients that do and don't use retentions and a look at previous proposals by Sir Michael Latham that the industry look at alternatives such as 'bonds' and 'trust forms'.
SEC group chief executive Rudi Klein has also written 'Getting Back Your Retentions' guidebook, which provides step-by-step advice about checking for retentions on contracts and how to be successful in adjudication.
And as part of its 'engineering alliance', SEC is planning to forge relationships with major clients, rumoured to be the likes of John Lewis and Tescos, and contractors to take forward the idea of integrated supply teams.