{"id":3188,"date":"2019-02-20T01:26:29","date_gmt":"2019-02-20T01:26:29","guid":{"rendered":"https:\/\/cita.co.uk\/news\/?p=3188"},"modified":"2019-02-20T01:26:29","modified_gmt":"2019-02-20T01:26:29","slug":"scotland-halves-project-bank-account-threshold","status":"publish","type":"post","link":"https:\/\/cita.co.uk\/news\/scotland-halves-project-bank-account-threshold\/","title":{"rendered":"Scotland halves project bank account threshold"},"content":{"rendered":"

The Scottish Government has paved the way\u00a0for a dramatic increase in the use of project bank accounts by slashing the project value threshold in half.<\/span><\/p>\n

From 19 March,\u00a0public bodies must include a PBA in tender documents for public works building contracts worth \u00a32m and over and<\/span>\u00a0civil engineering projects worth \u00a35m upwards.<\/span><\/p>\n

When project bank accounts were first made mandatory in Scotland back in October 2016\u00a0they were required on projects over \u00a34m and civil engineering projects valued over \u00a310m.<\/p>\n

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Under PBAs, payments are ring-fenced in one pot to protect them from main contractor insolvencies and payments can be made to all parties within 12-15 days.<\/p>\n

Main contractors are exempted if 75% of the work is carried out in-house or by associated firms.<\/p>\n

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The Specialist Engineering Contractors\u2019 Group Scotland welcomed the move.<\/span><\/p>\n

Its National Executive Officer Alan Wilson said:\u00a0\u201cWe have been pressing Scottish Government for some time to reduce the threshold to \u00a32m.\u00a0 <\/span><\/span><\/p>\n

“Clearly Scottish Government has been listening and industry SMEs will be the prime beneficiaries of this lowering of the threshold.\u201d<\/span><\/p>\n

The Scottish Government is also stepping up its efforts to encourage all bodies involved in public sector procurement to implement PBAs.<\/span><\/p>\n

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from Construction Enquirer http:\/\/bit.ly\/2TWeOR6<\/p>\n","protected":false},"excerpt":{"rendered":"

The Scottish Government has paved the way\u00a0for a dramatic increase in the use of project bank accounts by slashing the project value threshold in half. From 19 March,\u00a0public bodies must include a PBA in tender documents for public works building contracts worth \u00a32m and over and\u00a0civil engineering projects worth \u00a35m upwards. When project bank accounts […]<\/p>\n","protected":false},"author":1,"featured_media":149,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[9],"class_list":["post-3188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-enquirer"],"_links":{"self":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/3188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/comments?post=3188"}],"version-history":[{"count":1,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/3188\/revisions"}],"predecessor-version":[{"id":3189,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/posts\/3188\/revisions\/3189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media\/154"}],"wp:attachment":[{"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/media?parent=3188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/categories?post=3188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cita.co.uk\/news\/wp-json\/wp\/v2\/tags?post=3188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}