Timely cash flow throughout the construction payment chain is fundamental to a healthy construction industry.
Delay in payments anywhere in the supply chain reduces profit and restricts innovation and investment in plant, machinery and people. It also increases the cost to finance company operations and drives up the cost of construction overall.
The impact of payment delay on small- and medium-sized enterprises can be disproportionately severe, and even a minor delay in payment of one or two invoices can put smaller businesses under severe financial stress.
VRCA and COCTA therefore invite you to a meeting about Moving Forward with Strategies for Prompt Payment in BC.
Second session added:
|Time:||3 – 5 p.m.|
Vancouver Regional Construction Association
3636 East 4th Avenue, Vancouver
*Note: The March 6 meeting was extended to 3 to 6 p.m. to accommodate federal prompt payment representatives who want to address the audience on the national initiative. The March 7 meeting retains the original schedule of 3 to 5 p.m.
Topics for discussion:
- The consequences of delayed payment for satisfactorily completed work.
- The legislative solution: What is prompt payment legislation and why is it needed?
- Next steps: How do we get prompt payment legislation in BC?