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New prompt payment rules support Alberta’s economic recovery and growth by enhancing protections in the construction industry.

Red Tape Reduction Implementation Act passed its first reading in the Legislative Assembly of Alberta. If Bill 62 receives royal assent, it will further amend the Amendment Act, which received royal assent on December 9, 2020, and will come into force on proclamation. Many central features of the PPCLA, as discussed in our previous posts, remain largely unchanged. These features include the implementation of a prompt payment regime, changes to lien and holdback deadlines, and the addition of new holdback release mechanisms. However, if Bill 62 receives royal assent, it will make several imp...

To print this article, all you need is to be registered or login on Mondaq.com. Following a lengthy and industry wide consultative process, the Canadian Construction Documents Committee (CCDC) has recently issued a new CCDC 2 (2020) Stipulated Price Contract. The revised CCDC 2 has attempted to address some of the more significant changes that have taken place in the construction industry since its last version published in 2008. As an example, as prompt payment and adjudication comes into play across the country there was a need to update CCDC 2 to better align the co...