n Without Prejudice - Cash flow is king : construction law
|Article Title||Cash flow is king : construction law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Affiliations||1 Baker and McKenzie, 2 Baker and McKenzie and 3 Baker and McKenzie|
|Publication Date||May 2016|
|Pages||16 - 18|
During the course of 2015, the South African Ministery of Public Works notified the public that it intends to amend the 2004 Regulations under the Construction Industry Development Board Act, 2000. The Proposed Amendments aim to introduce requirements in relation to prompt stage payments and fast-track dispute adjudication to address constraints to effective infrastructure development by ensuring proper cash flow for contractors. The period for public comment ended in August last year. However, a recent enquiry directed to the Construction Industry Development Board (CIDB) indicated that it had escalated a number of changes to the Minister's office for further consideration. At the time of writing, nothing further has been made publically available and it is difficult to estimate when the Proposed Amendments will come in to force.
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