Oireachtas Joint and Select Committees

Thursday, 30 May 2024

Public Accounts Committee

Financial Statements 2022: National Paediatric Hospital Development Board

9:30 am

Mr. Phelim Devine:

It is usually a percentage, but in our contract, the full retention amount is €5 million, of which 50% – the first moiety – gets released on substantial completion. The final moiety – the remaining 50% - gets released after the defects liability period once any outstanding issues are resolved.