Skip to main content
Explore Your Issues
Temporary Finance Professionals
Workshops and Courses
On Demand Webinars
Become a Member
Board of Directors
Annual General Meeting
Share this page
Share on Facebook
Share on Twitter
What You Need To Know About The New Construction Act
The Construction Act of Ontario (Bill 142), received Royal Assent on December 12, 2017. The purpose of this Bill was to modernize the Construction Lien Act, last amended in 1983. The Bill introduces a mandatory prompt payment regime, a mandatory fast-track dispute resolution process, and other significant changes in terms of construction lien law. In order to provide sufficient time to prepare for these changes, the Ontario government staged the effective date of the reforms. Technical amendments on liens and other matters of law took effect on July 1, 2018. The changes involving prompt payment and adjudication are scheduled to take effect on October 1, 2019. Municipalities need to be aware of these changes and how their internal processes will have to change in order to avoid incurring undue risk.
What You will Learn:
Questions we will look to answer in the webinar include:
An owner on a construction project will no have to manage strict timelines around the evaluation of contractor invoices. What notices are required within these timelines?
What are the new rules around the preservation of a Lien for work performed for municipalities?
How will the new payment adjudication process affect the payments on construction projects? How must a municipality prepare? Can a municipality find itself at a disadvantage in these adjudications? Are an adjudicator’s decisions binding?
On what projects are Surety Bonds now mandatory? What is important to know about the mandated forms?
Who Should Attend:
Local government staff that are responsible for the management and administration of construction projects, finance staff responsible for processing payments, the clerk’s office, risk managers, etc.
Benefits of Attending:
Participants can expect to
Gain a clear understanding of the Construction Act and the specific new risks every municipality should be aware of.
Gain insights into the how best to prepare for managing the risks around the new payment adjudication process.
About your Webinar Leader:
is a 27-year veteran of the Surety industry. He joined The Guarantee Company of North America in 1992 to handle surety claims after spending several years in varied project management roles on residential subdivision projects. In his current role, Mr. Faieta is responsible for claims operations in Surety across Canada for The Guarantee. In addition to his role in claims, Mr. Faieta Chaired the Product Innovation Council for The Guarantee. Mr. Faieta was instrumental in the development of the Guarantee’s Surety School program delivered across Canada and is the architect of the Surety Association of Canada’s “SAC Headstart Subcontractor Performance Bond” currently in use. Mr. Faieta had an active role in various working groups for the Surety Association in Canada involved in developing the bond forms that now form part of the Construction Act in Ontario. Mr. Faieta’s work was recognized by the Surety Association of Canada by receiving its President’s Award for 2018.
Mr. Faieta is a licensed Professional Engineer having graduated with a degree in Civil Engineering from University of Toronto and is a member of Professional Engineers Ontario. He has an MBA from the Schulich School of Business and also holds the designation of Chartered Insurance Professional.
7/25/2019 12:00 PM - 7/25/2019 1:00 PM
Create a new account
Tweets by MFOAOntario