Construction Credit Solutions
Greater Lien Rights - 45 days is extended to 60 days for contractors, subcontractors & material suppliers to register a lien
Construction liens under $25,000 will now be referred to Small Claims Court
New Trust Fund Rules you need to know about
New Bonding Requirements for Public Sector Projects
10% Holdbacks - security in the form of a holdback bond or letter of credit could be offered in lieu of cash holdbacks
Financial threshold amounts will increase from $500,000 to $1,000,000 for Substantial Performance and Completion
Prompt Payment comes into force on October 1, 2019.
Adjudication Process comes into force on October 1, 2019, the day subsection 62 (2) of the Construction Lien Amendment Act, 2017 comes into force.
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July 1st deadline to preserve a lien will be extended from 45 to 60 days. The deadline to perfect a lien will also be extended from 45 to 90 days.
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Adjudication - Binding Dispute Resolution -