Citation: EWHC 2950 (TCC), (2008) CILL 2553
Nature of case: This case raised issues relating to the setting up of a separate bank account for retention money under the JCT Standard Form of Building Contract. The court held that a reasonable period for the setting up of the account and the transfer of monies would be two to three weeks, and that the Employer setting up the account should make it clear to the bank that the account is a trust account or that the sums in it are impressed with a trust.
