The new Construction Act increases the time for the registration of construction liens (from 45 to 60 days) and the time for the commencement of construction lien actions. If a contract is terminated, the terminating party (and others) are required to publish a notice of termination in the Daily Commercial News.
What is the 10% holdback in construction Act Ontario?
Section 22 of the Construction Act requires each payor on a construction contract to hold back 10% of the price of the services or materials as they are actually supplied under the contract until all liens that may be claimed against the holdback have expired. We call this the basic holdback.
How long do you have to file a construction lien in Ontario?
In Ontario, a lien must generally be filed within 60 days after the completion of the work or the supply of materials. If the lien is filed after this period, the claimant loses their right to enforce the lien.
How much does it cost to file a construction lien in Ontario?
Perfect your lien within 90 days to turn your claim into an enforceable legal tool. Filing a construction lien isnt free, but compared to the amount youre owed, its a modest investment: Government Fees: Typically around $70$80.
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