Getting Paid and Managing the Cash Flow

Description

Payment in the construction industry is a problem. This creates problems for both the Owner and the Contractor as well as the other participants involved with the project (Consultant, Subcontractors, Sub-Subcontractors, and Suppliers).

The Canadian Construction Documents Committee (CCDC) and the Canadian Construction Association (CCA) publish standard contracts and guides for the construction industry.

In this half-day workshop, the Payment Process in Standard Contracts (CCDC-2 Stipulated Price Contract, CCA-1 Stipulated Price Subcontract, CCA-19 Stipulated Price Sub-Subcontract) will be reviewed along with contract language from non- standard contracts which can delay payment.  Recent changes to the payment landscape due to Prompt Payment legislation in different jurisdictions will also be discussed.

It is important to recognize when your client is trying to work language into the contract which delays payment (Pay-if-Paid, Pay-when-Paid, “Notwithstanding” clauses).

Guides covered by the course:

• CCA 28 – A Guide to Improving Cash Flow in the Construction Industry
• CCA 50 – A Prime Contractors Guide to Project Financing and Payment Security
• CCA 53 – Trade Contractors Guide and Checklist to Construction Contracts
• CCA Banking Guide for the Canadian Construction Association
• CCDC 12 – Project Financial Information Disclosure Form

Who should attend?

This course is for those who are involved with billings and payment including Managers, Project Managers, Project Coordinators, Project Accountants of all levels. 

This course is delivered using PESL GoTo Training platform.