Other than cash, a standby letter of credit (LoC) is generally considered the most liquid form of performance security. While beneficiaries generally believe drawing on an LoC should be a relatively simple process, many do...more
The enactment of prompt payment and fast-track adjudication legislation across Canada has created some uncertainty regarding the finality of an adjudicator's decision. In the recent decision of the Ontario Superior Court of...more
Cash flow and payment delays due to disputes are a critical concern for construction companies who rely on the timely receipt of funds to maintain operations and pay subcontractors and suppliers. The introduction of prompt...more