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Retentions Trust Accounts

Safeguarded third-party trust accounts for construction contract retentions.

Apple App Store
By Invitation Only

For Employers

Safeguard retention funds and view the balance at any time, 24/7, in our mobile app.

For Main Contractors

Get visibility over retained funds and ensure their prompt release against completion certificates.

For Sub-Contractors

Main Contractors can pay your retentions into a Retentions Trust Account that works in exactly the same way as theirs.

Retentions Trust Accounts

Safeguard FF&E procurement funds with transparency into procurement costs

How is the account funded?

Each month, the Employer pays the notified sum on the interim payment certificate to the Contractor, and pays the retained amount directly into the Retention Trust Account at the same time.

Can I access my balance in the app?

Both the Employer and the Contractor have access to view the retentions balance within the account at any time, and all nominated users receive notifications through our app when deposits or payments are made.

Who owns the money in the account?

Retentions are held within the Trust Account, belonging legally to the Employer, but held as trustee for the Contractor (with no obligation to invest). This mirrors the JCT system.

How are the Retentions released?

Upon submission to dospay of the Certificate of Practical Completion (or equivalent), we effect the first release of retentions to the Contractor.
Upon submission of the Final Certificate (or equivalent), we effect the second release of retentions to the Contractor.

What happens to any balance at the end?

If, for any reason, the balance of the Retention Trust Account is greater than the retentions due to the Contractor in the second release, the residue is returned to the Employer upon closure of the account.

Contract Amendments

We provide sample contract amendments to assist with your implementation of a Retentions Trust Account

Further Information

Request a quote or sample account documentation

Regulatory Notices

Payment Services Regulations 2017

dospay is a trading name of DOS & Co. Ltd, a company registered in England and Wales with company number 08294966.
DOS & Co. Ltd. is registered with the Financial Conduct Authority under the Payment Services Regulations 2017 (FRN: 833374) for the provision of payment services. Digital Batch Payments are powered by Payment Rails Ltd, which is authorised by the Financial Conduct Authority (the “FCA”) under the Payment Service Regulations 2017 (registered reference no. 771016) for the provision of payment services.