Updated for 2022, JCT’s Project Bank Account Documentation helps parties to a contract who wish to adopt the use of a project bank account (PBA) as part of fair payment practice.
The documentation is designed to support the Government’s Fair Payment Guidelines as part of the Construction Strategy.
JCT’s PBA Documentation comprises the following:
- JCT Project Bank Account Agreement (PBA). This includes the JCT form of Joining Agreement (PBA/JA) Enabling Provisions for insertion into the Building Contract and Sub-Contracts requiring the relevant parties to enter into the PBA
- Guidance Notes
About PBA 2022
JCT’s PBA Documentation is appropriate for use in conjunction with the following standard forms of JCT main contract and their related standard forms of JCT sub-contract:
- JCT Standard Building Contract (SBC/Q, SBC/XQ, or SBC/AQ)
- JCT Standard Building Sub-Contract (SBCSub)
- JCT Standard Building Sub-Contract with sub-contractor’s design (SBCSub/D)
- JCT Intermediate Building Contract (IC)
- JCT Intermediate Sub-Contract (ICSub)
- JCT Intermediate Named Sub-Contract (ICSub/NAM)
- JCT Intermediate Building Contract with contractor’s design (ICD)
- JCT Intermediate Sub-Contract with sub-contractor’s design (ICSub/D)
- JCT Intermediate Named Sub-Contract (ICSub/NAM)
- JCT Design and Build Contract (DB)
- JCT Design and Build Sub-Contract (DBSub)
- PBA 2022 is only for use with the JCT 2016 Edition of contracts.
The JCT PBA Agreement is to be entered into by the Employer, the Contractor and any sub-contractors appointed in respect of the Project when the PBA is set up. There is the facility under clause 8 for new sub-contractors appointed after the date of the Agreement to be included in the PBA by entering into a Joining Agreement.
PBA 2022 is for use on both private and public sector projects. For public sector projects, PBA 2022 assists JCT contract users in complying with the policy objectives of the Government’s Construction Playbook on the use of PBAs.
