Construction industry bill passed

After 20 years of discussion, the Construction Industry Security of Payment Bill has finally been approved. With the introduction of statutory adjudication this legislation is likely to change the landscape of construction in Hong Kong and help contracting stakeholders at all levels gain greater control over cashflow. The bill will come into effect in August 2025. However, there is still much work to do with regards to educating the industry and training adjudicators – let’s see how the industry adapts.

https://www.news.gov.hk/eng/2024/12/20241218/20241218_195102_346.html