Retention & Bank Guarantees

Cash retention and bank guarantees held against each trade package, matched to every defect claim and open lot snag that trade still owes. This is the enforcement side of defect liability — the reason a subcontractor comes back to fix their own work instead of leaving the cost with you.

Security held

$3,188,250

$2,329,500 cash + $858,750 guarantees across 15 packages

Release blocked

$2,847,000

13 packages with open claims or 85 unverified snags — do not release

Uncovered exposure

$1,249,690

Claims and snags of $2,452,180 exceed security held

Guarantees expiring

$858,750

10 lapse within 90 days and cannot be called after

Release gate

Retention is the only leverage that reliably brings a subcontractor back. Nothing here should be released while a defect claim or an unverified lot snag they own is still outstanding.

Do not release

Coastline Waterproofing & Remedial QLD

Waterproofing · The Landmark — Tower One

2 claims · $560,500 | 12 open snags · $21,480 · 6 blocking handover

$315,000

$266,980 short

Seaview Mechanical (HVAC)

Mechanical · Athena Quays — Hope Island

1 claim · $129,000 | 5 open snags · $4,450 · 5 blocking handover

$157,500

covered

Pacific Facade & Glazing

Facade & Glazing · No.1 Grant Avenue — Hope Island

1 claim · $94,500 | 7 open snags · $5,740 · 7 blocking handover

$292,500

covered

Meridian Fire Protection

Fire Protection · The Landmark — Amenity Podium & Retail

4 open snags · $840 · 4 blocking handover

$92,500

covered

Aqua Systems Pool & Plant

Pool & Hydraulics · The Landmark — Amenity Podium & Retail

1 claim · $38,200 | 5 open snags · $950

$72,500

covered

Seaview Mechanical (HVAC)

Mechanical · The Landmark — Tower One

1 claim · $129,000 | 5 open snags · $4,450 · 5 blocking handover

$320,000

covered

Pacific Facade & Glazing

Facade & Glazing · The Landmark — Tower One

1 claim · $94,500 | 7 open snags · $5,740 · 7 blocking handover

$735,000

covered

Hinterland Electrical & Data

Electrical · Athena Quays — Hope Island

1 claim · $28,900 | 2 open snags · $840 · 2 blocking handover

$131,250

covered

Hinterland Electrical & Data

Electrical · The Landmark — Tower One

1 claim · $28,900 | 2 open snags · $840 · 2 blocking handover

$382,500

covered

Coastline Waterproofing & Remedial QLD

Waterproofing · Athena Quays — Hope Island

2 claims · $560,500 | 12 open snags · $21,480 · 6 blocking handover

$80,000

$501,980 short

Aqua Systems Pool & Plant

Pool & Hydraulics · No.1 Grant Avenue — Hope Island

1 claim · $38,200 | 5 open snags · $950

$44,500

covered

Pacific Facade & Glazing

Facade & Glazing · Orama — Chevron Island

1 claim · $94,500 | 7 open snags · $5,740 · 7 blocking handover

$122,500

covered

Coastline Waterproofing & Remedial QLD

Waterproofing · Orama — Chevron Island

2 claims · $560,500 | 12 open snags · $21,480 · 6 blocking handover

$101,250

$480,730 short

Clear to release

Superior Marine Structures

Marine & Pontoons · due in 14 days

$93,750

Bank guarantees lapsing

A guarantee can only be called on before it expires. Once it lapses the cost falls back on the project.

Coastline Waterproofing & Remedial QLD

Waterproofing · BG-48210 · expires 2026-10-09

$105,000

lapsed

Seaview Mechanical (HVAC)

Mechanical · BG-48314 · expires 2026-09-14

$52,500

lapsed

Pacific Facade & Glazing

Facade & Glazing · BG-48340 · expires 2026-11-03

$97,500

9 days left

Gold Coast Lift Services

Lifts · BG-48275 · expires 2026-11-23

$82,500

29 days left

Superior Marine Structures

Marine & Pontoons · BG-48366 · expires 2026-12-23

$31,250

59 days left

Pacific Facade & Glazing

Facade & Glazing · BG-48223 · expires 2026-10-24

$245,000

lapsed

Hinterland Electrical & Data

Electrical · BG-48327 · expires 2026-09-19

$43,750

lapsed

Hinterland Electrical & Data

Electrical · BG-48249 · expires 2026-09-24

$127,500

lapsed

Coastline Waterproofing & Remedial QLD

Waterproofing · BG-48301 · expires 2026-08-15

$40,000

lapsed

Coastline Waterproofing & Remedial QLD

Waterproofing · BG-48379 · expires 2026-10-19

$33,750

lapsed

Retention & guarantee register

Every trade package, the security still held against it, and the open defect value it is standing behind.

Package	Cash held	Guarantee	Open claims	Open snags	Cover	Status
Coastline Waterproofing & Remedial QLD Waterproofing · The Landmark — Tower One Contract $4,200,000 @ 5%	$210,000	$105,000 lapsed	$560,500 2 claims	$21,480 12 snags 6 blocking	54%	Blocked
Coastline Waterproofing & Remedial QLD Waterproofing · Orama — Chevron Island Contract $1,350,000 @ 5%	$67,500	$33,750 lapsed	$560,500 2 claims	$21,480 12 snags 6 blocking	17%	Blocked
Coastline Waterproofing & Remedial QLD Waterproofing · Athena Quays — Hope Island Contract $1,600,000 @ 5%	$40,000	$40,000 lapsed	$560,500 2 claims	$21,480 12 snags 6 blocking	14%	Blocked
Seaview Mechanical (HVAC) Mechanical · The Landmark — Tower One Contract $6,400,000 @ 5%	$320,000	$0	$129,000 1 claim	$4,450 5 snags 5 blocking	100%	Blocked
Seaview Mechanical (HVAC) Mechanical · Athena Quays — Hope Island Contract $2,100,000 @ 5%	$105,000	$52,500 lapsed	$129,000 1 claim	$4,450 5 snags 5 blocking	100%	Blocked
Pacific Facade & Glazing Facade & Glazing · The Landmark — Tower One Contract $9,800,000 @ 5%	$490,000	$245,000 lapsed	$94,500 1 claim	$5,740 7 snags 7 blocking	100%	Blocked
Pacific Facade & Glazing Facade & Glazing · No.1 Grant Avenue — Hope Island Contract $3,900,000 @ 5%	$195,000	$97,500 9d left	$94,500 1 claim	$5,740 7 snags 7 blocking	100%	Blocked
Pacific Facade & Glazing Facade & Glazing · Orama — Chevron Island Contract $2,450,000 @ 5%	$122,500	$0	$94,500 1 claim	$5,740 7 snags 7 blocking	100%	Blocked
Aqua Systems Pool & Plant Pool & Hydraulics · The Landmark — Amenity Podium & Retail Contract $1,450,000 @ 5%	$72,500	$0	$38,200 1 claim	$950 5 snags	100%	Blocked
Aqua Systems Pool & Plant Pool & Hydraulics · No.1 Grant Avenue — Hope Island Contract $890,000 @ 5%	$44,500	$0	$38,200 1 claim	$950 5 snags	100%	Blocked
Hinterland Electrical & Data Electrical · The Landmark — Tower One Contract $5,100,000 @ 5%	$255,000	$127,500 lapsed	$28,900 1 claim	$840 2 snags 2 blocking	100%	Blocked
Hinterland Electrical & Data Electrical · Athena Quays — Hope Island Contract $1,750,000 @ 5%	$87,500	$43,750 lapsed	$28,900 1 claim	$840 2 snags 2 blocking	100%	Blocked
Meridian Fire Protection Fire Protection · The Landmark — Amenity Podium & Retail Contract $1,850,000 @ 5%	$92,500	$0	—	$840 4 snags 4 blocking	100%	Blocked
Gold Coast Lift Services Lifts · The Landmark — Tower One Contract $3,300,000 @ 5%	$165,000	$82,500 29d left	—	—	—	Holding
Superior Marine Structures Marine & Pontoons · No.1 Grant Avenue — Hope Island Contract $1,250,000 @ 5%	$62,500	$31,250 59d left	—	—	—	Due soon