By Anthony Capkun
July 19, 2017 – Legislative amendments and regulations that aim to better protect subcontractors and suppliers in Nova Scotia’s building trades came into effect June 30, 2017.
“The changes to the Builders’ Lien Act will free up money, allowing it to flow back into the economy earlier,” said Duncan Williams, president, Construction Association of Nova Scotia. “The changes will enable contractors to reinvest in their companies, people and capital. We hope to see significant improvements in productivity for all in the construction pyramid.”
Amendments to the Builders’ Lien Act will allow for the earlier release of financial holdbacks to those in the trades who complete their work on construction projects, reports the Department of Justice. New regulations will also ensure notice is given when a construction project is substantially completed.
The requirement to give notice does not apply to owners who are having work done on their residential properties when the contract or work is less than $75,000.
“When homes or commercial buildings are under construction, everyone should be paid in full for their work in a timely manner,” said Mark Furey, minister responsible for the Act. “These changes will allow electricians, plumbers and other subcontractors to be paid sooner for their work.”
DOWNLOAD the Backgrounder below (PDF) for more information.