While building Luxury custom homes and highly efficient NET ZERO homes is our stock- in- trade at Chatsworth Fine Homes, the list of tools in our “chest” is constantly expanding to keep ahead and current in the ever changing construction industry. Two of our team will be attending a seminar as part of the Business Law Summit Series put on by Pallett and Valo, one of Mississauga’s leading Law firms. The seminar covers some of the major changes that are coming into effect this fall. The new “Construction Act” formerly the Construction Lien Act includes provisions for prompt payment, speedy arbitration of disputes, longer lien periods and compulsory payment of hold backs. These changes were a culmination of a 2015 government report ” Striking the balance”, which provided recommendations after canvassing, listening and including input from various stakeholders and interests. This overhaul comes after the previous act continued for 35 years with relatively minor changes.
While there isn’t the time to dwell at length in this short blog, needless to say the consequences are thought by many to be far reaching. ” it will completely change the “bones” of the payment process” says Fil Capuano CEO of Chatsworth Fine Homes. While we certainly aren’t “lawyers” our teams needs to be aware of the law on a daily basis, providing our clients the comfort of knowing that their home is being built not only with care and attention to detail but to the best fair practices of the law of the land.
Call us anytime to chat about you project. We build luxury custom homes in Mississauga, Oakville and Burlington. We are also registered NET ZERO builders working with our partner firm Oak Harbour Developments Inc.