Brief content of the Talk:
While the timetable for having the security of payment (SOP) legislation remains uncertain, the Government has issued the Technical Circular (Works) no. 6/2021 for implementing security of payment provisions in public works contracts on 5 October 2021. With an intention to facilitate timely processing of payments and to allow a speedy resolution of payment related disputes, SOP is likely to affect most of the partitioners in the local construction industry.
In this sharing, Sr Eric Ting is going to share his view on how to make use of this change to strengthen the construction contract and claim management. Apart from payment claim, payment for variations, prolongation costs etc. will also be covered.