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Date [insert date of Agreement]

Parties

1. 1

   [insert name of Employer] of [insert address] [incorporated in England and Wales with company registration number] [insert company registration number] (the 'Employer')

1. 2

   [insert name of Contractor] of [insert address] [incorporated in England and Wales with company registration number] [insert company registration number] (the 'Contractor')

1. 3

   [insert name of firm] of [insert address] [a limited liability partnership] (the 'Escrow Holder')

Whereas

1. 1. (A)

      The Employer [has entered into OR intends to enter into] a contract with the Contractor for the [design and] construction of [insert brief description of the project] at [insert location of site] (the 'Building Contract').

   1. (B)

      The Employer has agreed to deposit a sum of money in a designated interest-bearing account in accordance with the provisions of this Agreement as security for payment to the Contractor under the Building Contract.

   1. (C)

      The Escrow Holder has agreed to hold the deposit and operate the designated interest-bearing account in accordance with the terms of this Agreement.

It is hereby agreed as follows

1. 1. 1

      Definitions and interpretation

      1. 1.1

         In this Agreement the following expressions shall have the following meanings:

         [Architect/Contract