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?

Insolvency Protection
Funds are legally separated from working capital. If a party to the agreement goes bust, money is safe.
Contractual Compliance
Easily meet JCT and NEC contract requirements to hold retentions in a separate bank account.
Administrative Simplicity
No need to visit a bank branch. We open the account and provide a standardised Trust Deed digitally.
Supply Chain Trust
Contractors are more likely to tender (and price competitively) when they know their retention is secure.

How does it work?

01
The parties digitally sign the standardised Trust deed.
02
The project’s dedicated bank account is quickly opened with Griffin Bank, all via the Saible Platform.*
03
You transfer the retention amount(s) into the account as per your contract.
04
The funds sit securely in trust, untouched until their legal release.
05
You jointly authorise the release of funds when the work is certified complete.

What does it cost?

Retention Trust Accounts are free of charge if the Bank of England base rate is above 3%. 

If the base rate falls below 3%, a maintenance fee of £20 +VAT per month applies per account.

Retention Trust Accounts do not pay interest.

There are no transaction fees for deposits or withdrawals nor other hidden costs.

Speak to our Retention Trust Account team

* Project monies remain with our UK-regulated banking partner throughout. Saible never holds client funds. Our platform digitises approvals and record-keeping, with bank-grade security, biometric authentication and a full audit trail.

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Retention Trust Account

The simple way to protect construction retention funds from insolvency and misuse.