The Development Bureau issued a Technical Circular on 5 October 2021 on the Security of Payment for Public Works contracts. The Circular will affect tenders from:
- Group B or C contractors on the List of Approved Contractors for Public Works as of 31 December 2021; and
- other contractors on the List and Approved Suppliers of Materials and Specialist Contractors for Public Works as of 1 April 2022.
In this seminar, Joseph Chung and Stanley Lo will discuss:
- the present status of “pay when paid” provisions
- how this new arrangement will affect the construction industry,
- what new obligations will be imposed upon the parties; and Security of Payment Provisions in Public Works Contracts – Are you prepared for the challenge in the new era? Hong Kong Institute of Construction Managers (Incorporated with limited liability by guarantee) (“HKICM”)
- what parties should do to protect their rights under the contracts and subcontracts; and
In this seminar, Joseph and Stanley will also share some practical tips and tactics to avoid construction disputes and what the likely implications may be on consultants under the SOPL.