Security of Payment in Hong Kong – are we there yet?

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Hong Kong has moved yet another step closer towards implementing a statutory adjudication regime for security of payment in the construction industry.

As readers will know, legislation already exists in the United Kingdom and in six other jurisdictions to enable sub-contractors and other parties in the construction industry to obtain payment for their work and services. The legislation provides a procedure for resolving claims and for the adjudication of disputes. Adjudication produces a temporarily legally binding decision which is enforceable by action in the courts unless within a certain period one of the parties refers the underlying dispute to arbitration or litigation in accordance with what the parties have agreed.

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