TORONTO—Getting customers to pay on time can be a challenge for contractors.
Many times the contractor is left struggling to make ends meet while waiting for a delinquent customer to settle their bills.
That’s the reason Ontario Liberal MPP for Vaughan, Steven Del Duca, has introduced the Prompt Payment Act, or Bill 69.
It would require all debts owed for construction work be settled within 30 days after completion.
The bill passed second reading in the house last May yet the fate of the bill is still up in the air.
If successful, Ontario will be the first Canadian jurisdiction to impose such laws, which are common in other parts of the world.
Alec Caldwell, founder of the Canadian Association of Renovators And Home Services (CARAHS) reports on the issue in Canadian Contractor’s Do you want the Ontario’s “prompt payment” legislation (Bill 69) to become law?