Since the fall of Carillion, the construction industry has been actively seeking a change.
Industry Watch – Payment Retention – How the Construction Industry is Acting to Reduce the Impact of Contractor Insolvency
Project Bank Accounts – New Project Accounting Contractor’s will Hate but Will Protect them from Insolvency!
Using PBA's will require significant adjustments and all parties will need to rethink how they operate.
Industry Watch – PBA Accounts – What are They and Can They Solve Payment Problems in Construction?
PBA's work like a Trust that holds funds from an Owner as payment to the general contractor.
Industry Watch – Construction Lobby Lays Out Plan For 2018 – What They Got Right and What They Got Wrong.
The SEC's focus on these issues foretells of major changes for construction in the future.