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okay good evening students this is the second video in the contact accounting chapter weve gone through the explanation of how it works so this video will now focus on a second portion of work that we do under contact accounts which is the retention im sure most of you have heard about detention before and you know what retention is the tension is a process where we do not charge the customer for the full amount immediately in case that theres any problems regarding repairs and maintenance or defects with some of the work that was done in the ease a portion of money that was kept back or retained so this can be rectified or fixed before the customer is then charged for the full amount um the retention is normally done in the form of a percentage so we will know what the value is that the customer was supposed to be charged and then retention will be a certain percentage lets say 10 to 15 percent or 20 percent of the regional amount and that amount will then be kept back ill expla