The Construction Act of Ontario (Bill 142), which received Royal Assent on December 12, 2017, is coming into effect on July 1, 2018.
This new legislation is truly state-of-the-art in terms of creating a responsive and modernized approach to certainty and timeliness of payment for construction work in the province. The Act brings into force several ground-breaking measures that will expedite the flow of money down the construction payment chain, as well as notable improvements with regards to the treatment of construction liens, holdbacks and trust funds.
The Surety Association of Canada (SAC) will be hosting a series of webinars directed at key stakeholder audiences to introduce changes that will affect the surety sector, as well as to provide an in-depth overview of what you need to know that will affect how you operate your business.
Each webinar will be two (2) hours in length from 10AM to 12Noon (EST) and is being offered at no charge.