November 14, 2023
All new construction contracts in Alberta must adhere to the rules of the Prompt Payment and Construction Lien Act as of August 29, 2022.
Existing contracts that are scheduled to end before August 29, 2024 do not need to be changed to adhere to the new rules. Existing contracts that extend beyond August 29, 2024 have to become compliant by August 29, 2024.
Go HERE for more information on Alberta’s Prompt Payment rules