Guidance

Project bank accounts

Project bank accounts see members of the construction supply chain receiving payment in five days or less from the due date.

From:
Cabinet Office and Infrastructure and Projects Authority
Published
15 May 2012

Documents

Project Bank Accounts – Briefing document (pdf, 159kb)

PDF, 159 KB, 3 pages

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A guide to the implementation of Project Bank Accounts (PBAs) in construction for government clients (pdf, 933kb)

PDF, 933 KB, 45 pages

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Details

Cabinet Office is working with public sector construction procurers in pioneering a new way of paying supply chain members in construction projects through Project Bank Accounts (PBAs). PBAs see members of the construction supply chain – many of which are SMEs – receiving payment in five days or less from the due date. This eases cash flow through the system and supports closer working within the supply chain. Government Construction Board members have committed, over the next three years, to deliver £4 billion worth of construction projects using PBAs.
 
Cabinet Office has published a short briefing document on PBAs, as well as a much more detailed guide to the implementation of PBAs for government clients, which provides a process map for government clients looking to introduce PBAs in their construction projects.

Updates to this page

Published 15 May 2012

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