New Construction Policy Note (CPN) 7/2020: Project Bank Accounts: availability and accessibility to subcontractors
The Scottish Government has published a construction policy note which reiterates Scottish Government policy on the inclusion of subcontractors in a Project Bank Account (PBA); and reinforces it in practice through a notice to subcontractors.
The information must be available to and accessible by subcontractors to enable them to join a PBA.
PBAs assure two things for subcontractors working on Scottish construction projects delivering built assets to the public sector:
- prompt payment
- protection of payment from the effects of main contractor insolvency
The former is good for businesses and their employees. The additional assurance PBAs give on the latter also make them good for the economy and society. It follows therefore that where a PBA is implemented it must be available to and accessible by subcontractors.
Suppliers can read the construction policy note in full on the Scottish Government's website.
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