Preparing for Prompt Pay Legislation In Effect August 29, 2022
The new Prompt Payment and Construction Lien Act (the renamed Builders’ Lien Act) which introduces prompt payment, changes to the existing Builders’ Lien Act and an adjudication process comes into effect August 29, 2022. Industry representatives appointed by the Alberta Construction Association including Gowling WLGs law firm have been directly involved in the stakeholder discussions. Here’s what you need to know to get prepared. For your reference is a consolidation of the old Act with the amendments, Prompt Pay Regulations, and answers to Frequently Asked Questions. The FAQs list a number of considerations for changes you will need to make to your invoicing and payment systems. Educational webinars will be offered to members starting this April. These webinars will be presented by the construction group of the Gowling WLGs law firm which has first hand knowledge of the new legislation and its practical impact. Webinars will feature Q&A so you get the information you need.