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28/09/2016

PBA's To Be Used On Major Construction Projects - Govt

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The Scottish Government has revealed Project Bank Accounts (PBA) will now be used on major construction contracts procured by government bodies.

From the end of next month, a PBA must be included in tender documents for contracts with an estimated value of at least £4,104,394 for building projects and £10 million for civil engineering projects.

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Finance Secretary Derek Mackay said: "This is an important milestone in the government's commitment to improving cashflow for smaller firms. The PBA guidance translates trial programme experience into a simplified common approach with practical resources for implementation in Scottish Government projects. We urge all other organisations involved in commissioning work on Scotland's infrastructure to use PBAs."

(LM/MH)

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