The Construction Contracts Act entered in law on July 25th. It provides new minimum contractual provisions concerning payment arrangements between the parties to a construction contract, subject to some exceptions.
Where payment disputes do arise between the parties to a construction contract, either party will have the right to refer the payment dispute for adjudication, which will be concluded within a set timeframe.
Where the parties cannot agree on an adjudicator, the Chairperson of the Ministerial Panel of Adjudicators will appoint an adjudicator from that Panel to the dispute. A series of training and briefings, to prepare companies for the new legislation is being organised.