What You Need to Know
BILD Alberta recommends familiarizing your organization with the implementation of Prompt Payment:
- Understand the definition of a proper invoice and what the invoice must include.
- Review payment timelines and your statutory obligation after a proper invoice is submitted.
- Assess current contracts with your legal professional to identify any required changes.
- Parties should consider how Prompt Payment may impact project financing.
- Learn about the adjudication process and prescribed timelines
The ADR Institute of Alberta is a Nominating Authority that will educate and train adjudicators for potential disputes.
As part of BILD Alberta’s member service, we have developed various resources, including a detailed guide regarding Prompt Payment and two webinars with legal experts.
If you would like to access these materials or learn more, please contact Saheb Dullet.