Posted on November 28th, 2024 in Construction & Real Estate
Prompt payment and adjudication are processes provided under Ontario’s Construction Act to help contractors to get paid on time. Prompt payment legislates mandatory timelines for payment and adjudication. It is a dispute resolution process that allows a contractor or subcontractor to enforce claims for payment in a more efficient and less expensive way than going through the court system.
To further support the process, the Council of Ontario Construction Associations (COCA) recently launched a Prompt Payment and Adjudication Toolkit as an online resource centre.
The Prompt Payment and Adjudication Toolkit features downloadable documents with clear, concise information for owners, contractors, and subcontractors alike. Prompt Payment Adjudication 101, provides an overview of the act in layman’s terms, covering information about holdbacks and proper invoicing. The webpage also has a prompt payment webinar and links to government resources.
The intention of the resource centre is to get contractors and owners familiar with the legislation so that they can create their own internal processes and easily access the tools if and when there is a dispute over payment. The online resource centre is intended to provide information and should not be considered legal advice. We encourage those with further questions to contact a lawyer.
For more information and to access the toolkit, please visit: https://www.coca.on.ca/advocacy-prompt-payment/
September 24th, 2024
Middle market real estate taxpayers must assess the impact of EIFEL rules on their investment structures to avoid denied interest expenses or penalties, focusing on partnerships, non-residents with Canadian real estate, and sector-specific exemptions.
September 21st, 2023
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