Category:
Save this article >
Amendments to the Ontario Construction Lien Act: New Mandatory Prompt Payment Requirements and Adjudication
Author:
Carol Dirks
Publication date:
January 9, 2020
Article Summary:
The second set of amendments to the Construction Lien Act, now called the Construction Act, came into force on October 1, 2019. These amendments introduce mandatory prompt payment requirements and a new adjudication process to resolve payment disputes quickly in the construction industry. The Construction Act applies to any contract for supplying services or materials to an improvement in respect of any land. Condominium corporations are now subject to strict statutory payment deadlines, having only 28 days to make payment to the contractor upon receiving a proper invoice. Failure to comply with these deadlines can result in interest payments and referral of the payment issue to the Ontario Dispute Adjudication for Construction Contracts (ODACC).
Keywords:
Construction Lien Act, Construction Act, Ontario, Prompt Payment Requirements, Adjudication Process, Payment Disputes, Proper Invoice, Statutory Payment Deadlines, Ontario Dispute Adjudication for Construction Contracts (ODACC), Property Management, Boards of Directors, Construction Industry, Contract Payment Obligations, Improvement, Condominium Corporation, Prejudgment Interest Rate.
Source Citation:
Carol Dirks
Amendments to the Ontario Construction Lien Act: New Mandatory Prompt Payment Requirements and Adjudication
January 9, 2020
Did you find this article useful?
Your feedback is important not only to us, but to all the other key players in the condo industry. Help us by letting us know if this article is relevant and useful. This will help us prioritize articles that provide helpful guidance to other key players like you.
Please login to use this feature.
