How the UK Retention Deposit Scheme Works
The UK Retention Deposit Scheme is compatible with all construction contracts, whether bespoke or standard-form, or even heavily amended standard-form contracts.
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
Step 1
Open an Account
Open a self-service account via our Portal
Upload your construction contract
Supply the paying party compliance information
Receive dedicated account details for your Retention Deposit Account
Step 2
Deposit Retentions
In accordance with the contract's payment provisions, the paying party deposits the withheld retention each month in the Retention Deposit Account
Upload the payment certificate
Upload the invoice
The paying party deposits the withheld retention each month in the Retention Deposit Account
Step 3
Verify Retentions
Access your account portal 24/7 to check on your retention.
Access your safeguarding certificate
Confirm you've received your retentions
Request release of your retentions
Step 4
Release of Retentions
Your retentions are released in accordance with the terms of your construction contract and with the Scheme Rules.
Release against PC Certificate
Release against Certificate of Making Good
Release against court order enforcing adjudicator's decision
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.
