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Project bank accounts in construction: drafting and negotiation checklist for building contracts and PBA agreements—trusts, payment authorisation, bank mandates, interest and charges, sub-contract flow-down, HGCRA 1996 compliance

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Provisions relating to setting up a project bank account

Clauses covering the creation of a project bank account may sit within the building contract itself, or be set out in a separate project bank account agreement, with enabling provisions included in the building contract. See Practice Note: Introduction to project bank accounts. Those due to be paid from the account will also be required to enter into a trust deed. When reviewing or negotiating project bank account documentation, key considerations include:

  • Which parties will establish the project bank account and be the account holders?...
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Web page updated on 20/05/2026

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