Tuesday, 28 July 2015 18:15

Amendment Act will protect emerging Contractors

Emerging contractors in the construction industry will soon stand to benefit from increased protection provided by a new amendment to the Construction Industry Development Board (CIDB) Act, which was proposed by the Department of Public Works.

  • The CIDB Amendment Act, which is due to come into force this month, stipulates that construction contractors be paid within 30 days of completing their work.
  • It also provides for other forms of increased protection, such as due notification of reduced payments and dispute settlement within a short prescribed period for small-scale contractors who are being disadvantaged by larger corporations
  • Amendment Act will significantly influence the project management sector, especially the way in which projects are executed and administered.