Can Security for Expenses Ltd. hold security under building contracts?

Yes. Contractors undertaking building works want to know that they will be paid but employers are understandably reluctant to make payments in advance or on account. We can hold funds and release them to the contractor against a Certificate for Payment issued by the Contract Administrator under one of the standard forms of building contract.

In such cases our agreement is with the employer who agrees that we will honour without question certificates issued under the building contract out of funds deposited with us.