The National Trade Contractors Coalition of Canada (NTCCC) and Prompt Payment Ontario- PROMPT PAYMENT

  |  in Economic & Industry Analysis, Recent Projects 

Prism Economics prepared a report entitled “The Need for Prompt Payment Legislation in the Construction Industry” for the National Trade Contractors Coalition of Canada (NTCCC) and Prompt Payment Ontario.  The Report focused on the growing problem of late and uncertain payments to trade contractors and the damage caused by the ‘culture of late payment’ on employment, apprenticeship and investment in machinery and equipment.  The report also described the prompt payment statutes adopted by most other jurisdictions in the OECD region.  The Report supported the lobbying efforts of NTCCC to obtain prompt payment legislation in Ontario.  Those efforts led to the creation of the Construction Lien Act Review by the Attorney General.  Prism Economics supported Prompt Payment Ontario in drafting their submissions to the Construction Lien Act Review.  In connection with these submissions, Prism Economics also assisted Prompt Payment Ontario in designing and managing a survey of the payment and collection challenges of over 500 trade contractors.

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