Project bank account documentation (PBA 2011)

Publication Year

2011

Document Status

Withdrawn

Abstract

The JCT PBA has the status of a trust, with the money deposited protected in the event of the insolvency of the employer and/or contractor. They provide greater payment security to the supply chain, and may provide cost savings to the client as they help to crystallise payment issues and to reduce disputes. PBAs can be used on projects of all sizes but are most appropriate on large projects where there are a number of sub-contractors involved. Designed to be used in conjunction with the JCT standard forms of building contract.

Document History

Superseded by: PBA 2016 Project bank account documentation 2016 (JCT, 2016). JCT 2011 Contracts should be used for construction contracts entered into after 1 October 2011. PBA 2011 is part of the JCT 2011 suite of publications.

Publisher Information