Prompt payment for construction
According to the Ontario Construction Law reform that came into effect on October 1, 2019, there are a set of legal deadlines for payments on construction projects to make the prompt payment process more transparent and effective for all parties involved in the construction project.
Payment invoices must contain the minimum information under the Ontario Construction Act. Not excluding the possibility of including more information if the parties involved in the project believe it is necessary, provided that this information does not conflict with the legislation. Besides, the Construction Act allows all parties involved in the contract to agree to the invoices and the schedule for sending the invoices. If an invoice schedule is not included in the agreement, everyone must act according to the Construction Law’s monthly plan.
Failure to comply with the invoice payment provisions may imply the payment of interest rates already prescribed in the contract follows legislation. However, we know how delicate these issues are and how much the construction schedules can be changed due to various problems, thus generating the project’s non-delivery but the payment invoice obligation.
If you are experiencing any payment invoice issue related to your construction project, please contact our experienced construction lawyer for more information – 416-221-2221