Over 40 delegates attend workshop on new security-of-payment rules in HK

Over 40 delegates attend workshop on new security-of-payment rules in HK

More than 40 delegates attended the NEC Users’ Group workshop at Bryan Cave Leighton Paisner’s (BCLP) Hong Kong office in November 2021. The half-day workshop focused on the proposed new security-of-payment legislation in Hong Kong.

BCLP counsel Patrick Daley explained the application and mechanisms of the impending legislation and discussed its compatibility with NEC contracts. Arup consultant SY Chan then looked at practical approaches for implementing the legislation in line with NEC ethos of ‘mutual trust and co-operation’. The event concluded with a discussion led by NEC Users’ Group secretary Robert Gerrard.

HK-security-workshop.jpg

New security-of-payment provisions

The proposed legislation is now being trialled through Technical Circular (Works) No.6/2021, which introduced mandatory security-of-payment provisions for the majority of Hong Kong’s public works tenders from December 2021, with the remainder to follow in April 2022.

The provisions, which are intended as a trial before the legislation gets formally enacted, ban ‘pay when paid’ clauses, require payment to be made within 60 days and stipulate rapid adjudications. 

Recent Projects

Recent news

Constrained budgets bring cost into focus for NEC users in Australia

Constrained budgets bring cost into focus for NEC users in Australia

Peter Colacino, NEC Australia Ambassador highlights four key aspects in managing cost control for NEC users.

NEC launches first official translation of NEC4 contracts and training

NEC launches first official translation of NEC4 contracts and training

NEC is thrilled to announce the launch of its first international language translation of NEC4 contracts, guides and training into Spanish.

NEC’s many successes over the past four years are a credit to all of us

John Welch Reflects on Four Years as NEC Users’ Group Chair in His Final Editorial

In his final editorial, John Welch, NEC Users’ Group Chair, reflects on NEC’s growth, successes, industry collaborations, and milestones over the past four years.

View all news