Retention Trust Account
Simple Protection for Retentions.
What is it?
A dedicated, ring-fenced bank account that holds retention monies in trust for the benefit of contracted parties.
Who is it for?
Main Contractors and Clients who need to demonstrate funds are safe, or satisfy specific contract clauses (like JCT) requiring retentions to be held in a separate account.
Why do I need it?
Retentions are often lost when a company goes insolvent, or "borrowed" for cash flow and never repaid. This creates massive friction in the supply chain. You need a way to prove those funds are safe with minimal administrative hassle.
What are the benefits?
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The construction payment crisis.
Late and non-payment is rife, disputes are commonplace, margins are too low and cash flow is unreliable. The human and economic cost of the status quo is unsustainable.
Every working day in the UK
£23 million
is wasted due to poor payment practice in construction*
2
construction workers take their own lives**
18
construction businesses go bust***
Sources
*Data from ONS, Dept for Business Innovation and Skills, The Adjudication Society, Pinsent Masons, and Construction Enquirer
**Office for National Statistics
***UK Government Insolvency Service
We CAN do better
Saible has solutions for public and private sector projects across housing, regeneration, commercial development, civils, and infrastructure.
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The payment management solution for Public Private Partnership projects as they approach contract expiry.
PBA+ Payment Control Service
Bring the security, compliance, and supply chain visibility of the Saible platform to your Project Bank Accounts.
Retention Trust Account
The simple way to protect construction retention funds from insolvency and misuse.
Saible Consult
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