PBA 2016. Project bank account documentation 2016

Publication Year

2016

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Withdrawn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

Supersedes Project bank account documentation (PBA 2011) (JCT, 2011).

Publisher Information