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Logo UK Retention Deposit Scheme Logo UK Retention Deposit Scheme
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  • Guidance
    • Guidance for Lawyers
  • Pre-Qualification
    • 1 - Eligibility
    • 2 - Registering for an Account
    • 3 - Effect of Application to Join the Scheme
  • Scheme Rules
    • 1 - Definitions
    • 2 - Joining the Scheme
    • 3 - Tier 1 Contract Accounts
    • 4 - Subcontract Accounts
    • 5 - Our Interest in the Retention Funds
    • 6 - Protection of Funds under the Scheme
    • 7 - The Scheme Online Portal
    • 8 - Fees & Charges
    • 9 - Insolvency
    • 10 - Discharge from the Scheme
    • 11 - Disputes
    • 12 - Expiry
    • 13 - Your Obligations
    • 14 - Our Liability
    • 15 - Data Protection
    • 16 - Confidentiality
    • 17 - Notices
    • 18 - Governing Law
    • 19 - Rights of Third Parties
    • 20 - Severance
    • 21 - Updates to these Rules
  • Definitions
    • Bank
    • Base Rate
    • Beneficial Owner
    • Business Days
    • Compliance Requirements
    • Confidential Information
    • Construction Contract
    • Construction Operations
    • Contract
    • Contract Account
    • Contract Sum
    • Corporate KYB
    • Contractor
    • Data Protection Laws
    • Deposit Bank
    • Employer
    • England
    • Final Date for Payment
    • Final Release of Retention
    • Individual KYC
    • Insolvency
    • Pay Less Notice
    • Payment Notice
    • Paying Party
    • Pre-Qualification Information
    • Receiving Party
    • Rectification Period
    • Retention
    • Rules
    • Sanctions
    • Sanctions Authority
    • Scheme
    • Subcontract
    • Subcontract Account
    • Subcontract Retention
    • Subcontractor
    • Supply Chain
    • Tier 1 Contract
    • Tier 1 Contract Account
    • Tier 1 Contractor
    • Tier 1 Retention
    • United Kingdom
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    • VAT
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    • We or Us
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  1. Overview
  2. Guidance

Guidance

  • Guidance for Lawyers

    1. Why This Scheme Exists Retentions in construction contracts can be the cause of multiple disputes, delays, or financial risks if the funds are not properly protected. The UK Retention Deposit Scheme (“the Scheme”) provides a trust-based so ...

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