NTCCC hosts trade contractors summit on prompt payment
Trade contractors and associations from across Canada came together on April 4, 2018 in Toronto, ON to discuss payment legislation.
The National Trade Contractors Coalition of Canada (NTCCC) Prompt Payment Summit included member presentations on new developments and discussion on strategies to advance prompt payment federally and provincially.
“Our goal is to improve the timeliness of payments throughout the construction industry, and to learn from other jurisdictions such as Ontario with Bill 142,” said Steve MacKinnon, parliamentary secretary to the minister of public services and Procurement. “As we articulated a few months ago, we intend to legislate. From the Prime Minister on down, we’re excited to have this moving forward, and the argument is compelling.”
Trade contractors perform more than 80 per cent of all construction work in Canada. There is currently no system in place that enforces payment procedures.
According to NTCCC, the adoption of prompt payment legislation will ensure that contractors and subcontractors are paid within reasonable timeframes, which can ultimately improve productivity. www.ntccc.ca
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May 11, 2022