These documents include:
- Implementing Project Bank Accounts in Construction Contracts
- Scottish Government Template Trust Deed
- Selection Stage Notices and Contractual Enabling Clauses
In a downloadable briefing note, law firm MacRoberts considers some key questions arising from the initiative.
- What is a PBA?
- How are the PBA arrangements set up?
- In what sequence are the documents entered into?
- What is the benefit of the PBA arrangements?
- In what projects will PBAs be used?
- Are there circumstances where PBAs might not be used?
- Who can participate in the PBA arrangements?
- How do supply chain members participate in the PBA arrangements?
- What is an Additional Party Agreement?
- What will main contractors need to do?
- What will supply chain members need to do?
- How will the PBA arrangements integrate with the existing payment clauses?
- Who will pay the bank charges on the PBA?
- Will disputed amounts be paid into the PBA?
- Will retention be paid into the PBA?
Click here to download the briefing note.