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UK Retention Deposit Scheme

For contractors

Secure your retention.

Retention withheld from your valuations is deposited in a safeguarded retention account for the contract, and released in line with the contract.

The payment chain, with the retention held apart from itPayments run from the employer to the contractor and from the contractor to the sub-contractor. The retention each payer withholds is deposited in the contract's safeguarded retention account, which sits outside the chain. Contractor is highlighted.paymentpaymentEmployerContractorSub-contractorRetentionsafeguarded account
The retention is held apart from the payment chain, in the contract’s safeguarded retention account.

In short

  • Your retention is held apart from the employer's own money.
  • You can see the balance and every deposit in the portal.
  • It is released when the contract's release conditions are met.
  • Accounts for your own sub-contracts sit under the same contract.

What happens, in order

  1. First

    The contract names the scheme

    Agree it with the employer when the contract is negotiated.

  2. Then

    Retention is deposited

    As each valuation is paid, the employer deposits the retention it withheld.

  3. Then

    You check it at any time

    The portal shows the balance and each transaction.

  4. Finally

    You ask for release

    When the release conditions are met, you make a Release Notice through the portal.

Open a retention account

Online, one account per contract.

Open an accountRead the Scheme Rules