Project Bank Accounts (PBA) Masterclass Webinar
The LGA has joined up with the cross government Fair Payment Working Group to host a webinar on Project Bank Accounts (PBAs) on Wednesday 19 August at 10.30am – 12:00pm.
What are PBAs?
PBAs are bank accounts with trust status that are used to make direct payments due to suppliers working on construction projects. They protect money in the PBA that is due to the supply chain in the case of an upstream insolvency, and enable faster, direct payments to suppliers
The importance of PBAs
PBAs are a tool that can be used on construction projects to give certainty and security of payment, as well as ensuring that payment is made promptly. Government departments have committed to use PBAs on their projects unless there are compelling reasons not to do and are being increasingly used by Local authorities due to recent high profile insolvencies and for use in the current Pandemic to improve payment durations and security of the supply chain.
Why you should join
Join the webinar and learn about PBAs and how they are being used to deliver better value construction projects. It will be an opportunity to hear from people across the public sector that use PBAs and put your questions to them, and dispel some of the myths that surround PBAs. There will also be case studies to demonstrate the benefits of using PBAs on both small and large construction projects.
To register for this free event please click the button below.