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Security of Payment in Hong Kong - pilot programme for public works contracts | Bryan Cave Leighton Paisner

As the old saying holds, cash-flow is the life blood of the construction industry. In 2021, Hong Kong looks set to join Singapore, Australia and other jurisdictions in implementing a Security of Payment regime to regulate payment practices and provide a system to protect cash flow in the construction industry. As a first step, the Hong Kong Development Bureau has released consultation drafts of a Technical Circular annexing draft Security of Payment provisions for inclusion in public works cont...
Hong Kong Hong Kong Development Bureau Development Bureau Technical Circular Payment Legislation Public Works

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