Sometimes for some projects, a certain amount of money is retained and it is only released once the project is completed. If you are also in a same situation and you want to have your retention money released then you must write a formal request letter for retention payment. If the company has failed to release the payment for some reason then request letter for retention money release works as a reminder.
This post includes a request letter format for release of retention money. You can use the sample letter requesting release of retention letter in order to create a customized letter that can solve you purpose and help you in releasing of the retention amount.
Sample Letter Requesting Release of Retention Money
Date: November 08, 2021
New Age Bank
Sub: Regarding release of retention money
I am writing this letter with reference to the contract no. 1234 related to “Mobile Application Development”. We would like to inform you that the project has been completed.
The purpose of writing this letter is to request you for releasing the retention money that was paid against the order no. 1155 as now the project stands complete and has been handed over to the institution. The total retention amount due to be released is $ 50,000.
We, therefore, request you to please have the above mention retention money released at the earliest. We will make sure that we continue to offer our services without any delays or discrepancies.
Thanking in anticipation.
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