Blocked account/bank guarantee as security for the municipality

We had some further discussions with the forestry office and they were ultimately quite cooperative. The result is now that the security deposit will be completely waived. The property was cleared of vegetation yesterday (and the vehicles used the forest road directly for this) and it will "really" start soon... Thanks for the input here!

That's great!

I have experienced something similar. I have a few thousand euros as a security retention (5%) deposited in a daily allowance account. The money secures the warranty phase. Most trades have submitted a guarantee and received the money paid out, but some did not, so I get to sit on the money. I am actually obliged to keep this money insolvency-proof and earmarked. In fact, the necessary banking products no longer exist. However, none of the affected trades have requested proof of how the money is being kept. Presumably, they have written it off anyway, according to the architect. Few probably claim the retention after 5 years. We shall see.

They probably copied it anyway, according to the architect.

Then they already added the 5% to the price upfront. No one writes off money that easily.

You will be surprised. The 5% all demand theirs. All of them! Bet?

Presumably they have written it off anyway, according to the architect. Very few probably demand the retention after 5 years. We'll see.

You really think they don’t make a calendar entry to send an invoice in 5 years? Also, such items remain in the balance sheet and the tax advisor reminds you. The 5% was of course still added on top, otherwise the money would be missing now.

You will be surprised. Everyone demands the 5%. Everyone! Bet?

That suits me fine.

What I have experienced in terms of administrative incompetence on the part of the executing companies points rather in a different direction. I had to chase some just to get an invoice at all. Whether anything will come five years later ... we will see. It won’t be that long.

The "big" trades all posted a guarantee without any detours. It was rather the smaller trades that didn’t do that.