The Credit Department of CRH Canada was recently host to a live seminar in conjunction with an online webinar for customers to learn more about the new Construction Lien Amendment Act, 2017 and how the changes will impact the Construction Industry.
The seminar was conducted by two lawyers, Anna Esposito and Maria Ruberto from Pallett Valo who both specialize in construction law. The Construction Lien Amendment Act, (Bill 142) received Royal Assent on December 12, 2017. There will be upcoming changes to the Construction Lien Act and the new Construction Act will have a significant impact to the construction industry. Amendments to modernize the Act and Holdback Rules will come into force on July 1, 2018 while Prompt Payment, Adjudication and Liens against Municipalities will come into force on October 1, 2019.
According to Shawn Arnold, Sr. Manager, Corporate Credit & Collections, “Many customers had been asking about the upcoming changes and how they would work. It seemed that there was already a great deal of confusion on what the new rules will mean. We took that opportunity to organize the event as a way to help our customers manage this part of their business and to protect themselves and their accounts receivables.”
Anita Dindyal, Credit Manager, Dufferin Concrete, did a fantastic job at organizing the sold out event and also acted as moderator for the webinar. While many attended in person, the webinar addition allowed customers from across Ontario to benefit without having to travel.
We encourage you to watch the video below of the full seminar for further information on the changes regarding the Construction Lien Act.