Implementing project bank accounts in construction contracts
Publication Year
2020
Document Status
Withdrawn
Abstract
Comprises guidance for the public sector on setting up project bank accounts (PBAs) for construction projects. Covers: what a PBA is; extent and limitations of PBAs; benefits of prompt payment; essential elements of a PBA; role of the PBA champion; opening and setting up a PBA; completing the trust deed; PBA value thresholds in main contracts; subcontracts; paying the interim certificate into/out of the PBA; leaving the PBA and account closure; non-Scottish contractors; and PBA performance measurement.
Document History
Superseded by 16 August 2022 version. Dated 12 August 2020.
Publisher Information
Scottish Government
The Scottish Government is the devolved government for Scotland. It is responsible for most of the issues of day-to-day concern to the people of Scotland, including health, education, justice, rural affairs, and transport. Previously known as the Scottish Executive.
St Andrew's House
Regent Road
Edinburgh
ScotGov
UK
Website: www.gov.scot/Home
Email: ceu@gov.scot
Tel: 0300 244 4000
