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pbas

Project Bank Accounts in Scotland – 15 Key Questions

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Article Tags:
macroberts
pbas

MacRoberts PBAsIn September, the Scottish Government published several documents relating to the use of Project Bank Accounts (PBAs).

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.

    1. What is a PBA?

    2. How are the PBA arrangements set up?

    3. In what sequence are the documents entered into?

    4. What is the benefit of the PBA arrangements?

    5. In what projects will PBAs be used?

    6. Are there circumstances where PBAs might not be used?

    7. Who can participate in the PBA arrangements?

    8. How do supply chain members participate in the PBA arrangements?

    9. What is an Additional Party Agreement?

    10. What will main contractors need to do?

    11. What will supply chain members need to do?

    12. How will the PBA arrangements integrate with the existing payment clauses?

    13. Who will pay the bank charges on the PBA?

    14. Will disputed amounts be paid into the PBA?

    15. Will retention be paid into the PBA?

      16. Click here to download the briefing note.

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