Accounts you can trust, really

Article Abstract:

Sir Michael Latham has recommended the introduction of compulsory trust funds within the construction industry to protect the interests of all involved. The Specialist Engineering and Construction Contract involves the employer putting all the money into a trust account, and then paying the contractor and specialist contractors a fixed monthly sum out of it.

Laws, regulations and rules, Trusts and trustees, Trustees, Trusts (Law)

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People hold on: retentions have long been regarded as unjust but attempts at abolition have met with no success

Article Abstract:

The common practice in the UK construction industry of the employer deducting a retention from payment to main contractors and subcontractors can have significant drawbacks. It is argued that a bond would be a better option than the deduction of retention, but some employers regard retention as a way of boosting their cash flow.

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Perform 21 comes of age

Article Abstract:

The features of new Perform 21 that obtains 'best value' of Public Sector Partnering Contract for local authorities in United Kingdom are examined.

United Kingdom, Contracts & orders received, Management dynamics, Public Administration, State & Local Government, Contracts & orders let, Local Government, Management, Contract agreement, Company business management, Construction contracts, Building, Perform 21 (Standard)

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