Alberta Prompt Payment and Construction Lien Act – What You Need to Know to Get Prepared
The Alberta Government has enacted the new Prompt Payment and Construction Lien Act which will be effective on August 29th, 2022.
The legislation will dramatically impact the manner in which invoices are rendered and set mandatory time periods in which payments must be made to all parties involved in the construction chain. The legislation will also alter the exercising of lien rights, and potentially the way disputes are dealt with in the construction industry in Alberta. You will need to be ready for these significant changes.
We would like to help you get ready. The Edmonton Construction Association has arranged for the Alberta-based Gowling WLG Construction Practice Group to offer a complimentary webinar to help you understand the new legislation and its impact on your organization, including your administrative processes, contracts, bonding, financing, insurance, and project delivery.
The webinar will include over 50 FAQs relating to prompt payment, builders’ liens and holdbacks, adjudication, consolidation, the transition period and what your organization can do to get prepared. It will also include a segment on lessons learned from other provinces that have had prompt payment legislation already in place.