The Construction Contracts Bill 2010…We Have A Final Draft

The Construction Contracts Bill was introduced by Senator Feargal Quinn in the Seanad in May 2010 and has been making its way slowly through the legislative process ever since then. The final draft of the Bill has now been published and will go to committee stage on Wednesday 15 May. It will presumably be enacted shortly after that. The Industry has been eagerly awaiting this much needed legislation and thankfully the wait has been worthwhile. Many of the comments and concerns expressed by the industry have been taken on board.
In a nutshell the Bill aims to do the following:

• Introduce a statutory right to payment of specified amounts at specified times during the course of a construction contract;