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Project Accounts

A flexible solution for your project payments

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Shieldpay's digital platform provides transparency over the status of project funds to significantly remove the risk of late or delayed payments.

Create trust between parties and keep your costs on track throughout projects. Have peace of mind and reduced counterparty insolvency risk with funds held in safeguarded accounts with Tier 1 banks.

Escrow account

Hold and release funds related to pre-agreed milestone payments. Suitable for release under:

  • Joint Contracts Tribunal (JCT)
  • Warranties and Indemnities
  • Dilapidations
  • Retention amounts
  • Debt repayment funds

Third-Party Managed Account

A simple account structure, where safeguarded funds are held on behalf of the project funder, subject to project terms.

  • Funds can be directly distributed to contractors and subcontractors via digital release
  • Gain transparency with a digital platform that all assigned parties can access

 

Why Shieldpay Project Accounts?

  • Seamless payments for all project participants and subcontractors
  • A digital experience with real-time notifications and full transparency
  • Increased efficiencies and risk reduction for transacting parties
  • Increased efficiencies and risk reduction for transacting parties
  • Manage counterparty insolvency risk as funds held
why-shieldpay alternative

How it works

  1. Parties agree terms of the underlying project
  2. Shieldpay conducts verification checks
  3. Certified invoices for subcontractors are uploaded
  4. Shieldpay accounts funded with the agreed amounts
  5. Parties can monitor status of funds
  6. Funds released in accordance with the agreed terms
escrow-features-and-benefits
icon-charcoal-interface A digital experience
for all parties
icon-charcoal-justice KYC/KYB and
AML services
icon-charcoal-launch $2bn+ processed
through the platform
icon-charcoal-shield Regulated by the FCA and authorised by HMRC*

Ready to get started?

Speak with a Shieldpay expert
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