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Prompt Payment Regulations – Update as at 27 January 2016

The period for public comment on Construction Industry Development Board (cidb) Prompt Payment Regulations Government published in Government Gazette on 29 May 2015 (in Notice 482 of 2015) expired at the end of July 2015.

After a period of vigorous public comment, assimilation of the public comment received into an updated version of the Prompt Payment Regulations, the updated Prompt Payment Regulations have been approved by the cidb board.

The Prompt Payment Regulations are presently being reviewed by the Department of Public Works and Treasury for conflict with existing legislation.

We are hoping the Prompt Payment Regulations will be signed into law by the Minister of Public Works by the end of April 2014.

Click here to view the Government Gazette Notice 482 of 2015.

Click here to view the MDA commentary on the prompt payment regulations.