On December 9, 2020, Bill 37: The Builders’ Lien (Prompt Payment) Amendment Act, 2020, received Royal Assent and became law in Alberta. The Act is likely to come into force in July 2021 and introduces changes to the Builders’ Lien Act, RSA 2000, which will be renamed the Prompt Payment and Construction Lien Act.
The change in legislation makes it necessary for building contract revisions to ensure they capture the new laws with respect to enforcing payment timelines, regulating invoicing, and changes to holdback releases and dispute resolution proceedings.
Miller Thomson’s Alberta real estate and construction litigation law groups answered questions on how the changes to Bill 37 could affect you and your company.