Before revision: Alternatives include project bank accounts (which are used for all payments from the client and contractor), retention bonds ( a form of insurance against defects taken out by the contractor ), performance bonds, escrow stakeholder accounts (monies held by a third party), parent company guarantees (guarantee of completion by the main contractor's parent organisation) or trust funds to hold retention monies.
After revision: Alternatives include project bank accounts (which are used for all payments from the client and contractor), retention bonds ( see below ), performance bonds, escrow stakeholder accounts (monies held by a third party), parent company guarantees (guarantee of completion by the main contractor's parent organisation) or trust funds to hold retention monies.