Prompt Payment regulations and requirements to legally comply with the Construction Act are now entering year 3. Any contracts signed during the pandemic, and those signed any time in 2022 are subject to the regulations. No matter how large, or how small. If you are an architect or engineer in charge of advising your client on progress payment, you must understand clearly how the regulation and paperwork flow works. Gone are the days of applications for payment and payment certificates being in full control of the payment timeline. In fact, gone are the days of CCDC setting down the process in contract like it used to. If you are a project owner, you must comply, or risk being taken through an adjudication process. If you are a prime contractor and have not revised the structure of your invoice for compliance, you are at risk of not being paid on time. If you are a subcontractor, you need to know when the prime contractor proper invoice was submitted. If you do not know this information, you cannot track when you will get paid. You have a right to that information.
This 3 hour on-line LIVE course will walk attendees through all of the logistics of compliance in order to avoid adjudication and keep payments flowing to all contractors and suppliers on the project. Financial trust provisions must also be adhered to by all levels of the payment pyramid in order to comply. You must now segregate trust funds.
- Be confident you are sending and/or receiving proper invoices and evaluating them for compliance;
- Understand how to set-up a "draft proper invoice" procedure in a 2020 CCDC contract that does not address the requirements in Ontario;
- Be confident as a design professional you are advising your owner clients correctly;
- As a subtrade know what your rights are to access information from your prime contractor client;
- Segregate trust funds - those funds are not yours;
- Get introduced to the ODACC adjudication file management system and how to set up an account to commence an adjudication.
This course is a must have for all design professionals, all prime contractor project managers and company owners, all controllers and all subcontractors. Th session will include a refreshed 2022 version of Guide to Prompt Payment and Adjudication.