How is the retention protected in a Retention Deposit Scheme account?
UK Retention Deposit Scheme
The UK Retention Deposit Scheme is an independent scheme for the protection of retentions under construction contracts.
We provide segregated bank accounts for construction retentions under standard-form and bespoke construction contracts in England and Wales.
No-cost retention protection
Funds safeguarded at the Bank of England
Open an account for free, online, 24/7
No-cost retention protection
Funds safeguarded at the Bank of England
Open an account for free, online, 24/7
UK Retention Deposit Scheme
How is the retention protected in a Retention Deposit Scheme account?
Frequently Asked Questions
Your funds are held in segregated client accounts at the Bank of London which, in turn, stores those funds unencumbered at the Bank of England. The Bank of London is also part of the Financial Services Compensation Scheme, protecting eligible deposits as well.
For Employers
Support your supply chain and ring-fence your Contractor's retentions.
For Contractors
Secure your retentions and ensure prompt release in line with your contract.
For Sub-Contractors
Protect your retention and insulate yourself from Contractor insolvency.
