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Public Projects Payment Terms

Williams Mullen

New Amendments to Virginia’s “Prompt Payment” Law take effect July 1, 2023

Williams Mullen on

In 2022, the General Assembly enacted significant changes to Virginia Code §§ 2.2-4347, 2.2-4354 and 11-4.6 that mandated prompt payment by owners, contractors and subcontractors on public and private construction projects...more

BCLP

The new security of payment regime in Hong Kong – key issues to consider before its implementation

BCLP on

With the Hong Kong Development Bureau’s (DevB) contractual security of payment regime coming into effect from 31 December 2021 (the SOP regime), we now examine some important challenges which facing the Hong Kong construction...more

BCLP

Security of Payment in Hong Kong - pilot programme for public works contracts

BCLP on

As the old saying holds, cash-flow is the life blood of the construction industry. In 2021, Hong Kong looks set to join Singapore, Australia and other jurisdictions in implementing a Security of Payment regime to...more

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