1. THIS is an application under S.41 of the Arbitration Act. The facts of the case are shortly as follows :- The petitioner and the respondent admittedly entered into eleven contracts whereby the petitioner was to construct eleven schools in Nalut, Libya at the cost of LD. 2,437,525,000. All the contracts were written contracts and all dt. 21-08-79. The contracts contain inter alia two clauses with which this Court is concerned in disposing of the application. Clause 25.1.- Retention money a) The Associate shall within the time specified in the Letter of Intent/Letter of acceptance deposit with the principal a further sum in addition to the earnest money paid with the offer to work up to a rate of 1% of the value as initial retention money in cash or Government securities, performance bond by a Bank acceptable to the principal. b) To this sum shall be added the deductions from the Associates' interim bills for work done as specified under Cl.2.12 hereof, so as to make a total retention of 5% of the contract value as aforesaid. c) When the retention money reaches a limit of three thousand five hundred Libyan Denars, the Associate, if he so desires, may convert the amount int