Construction Sector

Yatapay Secure offers a variety of services that can be used in construction and development. From fixed fee escrow agreements to project accounts, clients can administer contract payments and award milestone payments to ensure construction projects are delivered on time and on budget.

Lack of transparency and the risk of late or delayed payments increases project costs resulting in unnecessary worry and lack of trust between parties.

YataPay Secure offers the following solutions

  • Escrow accounts

  • Warranties and Indemnities

  • Dilapidations

  • Milestone payments under a JCT

  • Retention amounts

  • Commercial Rent Deposits

  • Sinking Fund account

  • ...and many more

Construction Contracts


Escrow accounts are commonly used as holding accounts for construction project funds. The terms of the agreement or payment notices will state that payments must be protected, so as to provide security to the both party in the event of a payment default.

Whilst there are a number of statutory and other rights that contractors can fall back on, these usually only provide outcomes after the developer has missed payments, and even then, they may not protect against insolvency and cannot guarantee payment. This is where the use of a Construction escrow account can offer a solution.

By placing funds into a construction escrow account, the developer is able to guarantee the funds are available for the project and contractors can be sure that the funds are set aside for their payment. These escrow payments can be structured on specific milestones for the project in question.

YataPay secure are able to draft a bespoke Construction Escrow Agreement that contains pre-agreed conditions that must be met by the contractors before any payments are released. These conditions are agreed upon by both the developer and the contractors and drafted into the Construction Escrow Agreement by YataPay Escrow. Once the conditions of the have been met, the funds can be released from the escrow account to the relevant party, as set out in the Construction Escrow Agreement.

How it works

YataPay Secure is flexible to allow for any type of payment terms, from pre-determined milestone payments to invoice triggered releases.

Here is a typical workflow:

Security with YataPay?