Prompt Payment & Adjudication Symposium Impending reforms and what to expect With the new Prompt Payment and Adjudication legislation set to take effect on October 1, 2019, the Royal Institution of Chartered Surveyors (RICS) and Chartered Institute of Arbitrators (CIArb) hosted the Prompt Payment & Adjudication Symposium at Vantage Venues in downtown Toronto on May 29, 2019. 170 construction professionals and stakeholders attended the symposium, which sold out weeks in advance.
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ith the new Prompt Payment and Adjudication legislation set to take effect on October 1, 2019, the Royal Institution of Chartered Surveyors (RICS) and Chartered Institute of Arbitrators (CIArb) hosted the Prompt Payment & Adjudication Symposium at Vantage Venues in downtown Toronto on May 29, 2019. 170 construction professionals and stakeholders attended the symposium, which sold out weeks in advance. The symposium started with opening remarks from Dr. Paul Tichauer (Chair, CIArb Canada) who thanked Arif Ghaffur (President, Lakeland Consulting Inc.
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and Editor of the Construction Economist) for his dedication as the Chair of the Symposium Organizing Committee in enabling opportunity to knowledge share. Dr. Tichauer introduced the Chair for the morning session, Geza R. Banfai (Counsel, McMillan LLP) who touched on the ‘Background and Changes’ relating to prompt payment and adjudication, the morning session theme. Following the introduction of the symposium, Sharon C. Vogel (Partner, Singleton, Urquhart, Reynolds, Vogel LLP) and Brendan Bowles (Partner, Glaholt LLP) collaborated to present
the first topic of the day, ‘Prompt Payment Reforms Gather Momentum Across Canada’. Takeaways from this presentation included the historical context that led to the new legislation, the ‘profound cultural changes’ to impact the construction industry, and federal reforms. The next topic was ‘Worldwide Trend Towards Prompt Payment and Interim Dispute Resolution’, presented by Dr. John Fletcher (Head of the RICS Dispute Resolution Service). Dr. Fletcher provided lessons learned from around the world, specifically in the UK, underscoring the context
Summer 2019 | www.ciqs.org | CONSTRUCTION ECONOMIST | 17
