The speclialist Engineering Contractors (SEC) Group has urged clients to adopt project bank accounts (PBAs) to help stave off the adverse effects of the recession. At a conference on PBAs in the Scottish Parliament last week, the groups president Lord O'Neill of Clackmann said: "Against a background of rising insolvencies, bad debt, lack of availability of borrowing facilities and credit insurance, PBAs will ensure the cash is safe for the whole delivery team."
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