A security account is an account set up in the names of both the builder and the client, and the funds that the client will be using to pay the progress payments are deposited into this account.
If the client does not want to set up a security account, make sure your contract gives you the right to request the client, at any time, to produce evidence that they have the financial capacity to make all payments under the contract. This will allow you to satisfy yourself that the client has sufficient funds.
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