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Difference between retention money and security deposit

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(Querist)
28 February 2014 In construction industry .
Thanks.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
28 February 2014 the basic difference is that security deposit is given by the depositor/tenant etc

whereas retention money is retained out of payments to be made to the developer.

So security deposit is in excess to the contractual payments whereas retention money is part of contractual payments withheld subject to certain compliances.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
28 February 2014 kindly specify what is the diff between developer and builder?
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