Security of Payment Legislation ("SOPL"), which is proposed to be introduced in Hong Kong, encourages fair payment and rapid dispute resolution and improves cashflow throughout the construction industry supply chain. It also provides a simple mechanism for paying parties to challenge incorrect claims for payment.
The proposed SOPL has been created by a Working Group of which ICES was a member together with other key construction industry stakeholders and Government representatives. The Working Group considered different SOPL practices in the United Kingdom, Australia, New Zealand, Singapore and Ireland and the best approach for local conditions in Hong Kong.
The ICES Hong Kong have enlisted the help of the Steering Group of the Hong Kong Commercial Management Practices Committee ("HKCMPC") to assist in preparing ICES' response to the SOPL Consultation Document. The draft response is attached. Please note this is work-in-progress and subject to further development. ICES Hong Kong members are invited to submit their views to Mr. Ralph Leung of ICES Hong Kong at ralph.leung@aedas.com before 17 August 2015 and to join the Members' Forum at the BK SURCO Training Centre at which attendees' views will be taken into account in the finalised document to be submitted to Development Bureau by 31 August 2015. | 
