Hong Kong An Update on “Security of Payment” Legislation Webinar

Overview

The Development Bureau (DEVB) published the Construction Industry Security of Payment Bill on May 16 to establish a mechanism for improving the delay payment problems among contracting parties, which have existed in the construction industry for a long time. The Bill stipulates provisions to improve contractual payment terms, establish an adjudication mechanism to resolve disputes quickly, and grant unpaid parties the right to suspend or slow down the progress of work or services under the circumstances specified in the legislation, to ensure that all stakeholders can get their entitled payment in a timely manner.

The topic covers the following points:

• Update and explain the “Security of Payment” Legislation (SOPL)
• Discuss the impact of the legislation

This webinar will be delivered in Cantonese.

Learning outcomes

• Understand the local legislation
• Explore its impact to the surveying industry in Hong Kong

Featured speakers

• Ms Catherine Mun, Partner at Li & Partners
• Mr. Gilbert Kwok FRICS, Partner at M.B. Kemp. LLP
• Prof. Leung Hing Fung FRICS, Adjunct Professor, Department of Real Estate and Construction, Faculty of Architecture, The University of Hong Kong; Barrister-at-law