Internal release
If the subcontractor does not apply for retention to be released even after some time has
lapsed, an internal release can be performed for this (open) retention amount. This is the
last retention that is released for the Subcontracting Procurement Order, the retention
requested amount is not applicable and the retention approved amount is automatically
populated with the open retention balance amount. This amount cannot be modified.
If the Project is specified for the related Subcontracting Procurement Order, the Internal Release check box can be selected only if the Project is closed. The retention amount of an internal release is always booked to the corporate account and this increases the corporate profit.
Tax is applicable and mandatory for the internal released retention.