NEC contracts entered after 28 August 2025 in Hong Kong will be subject to the region’s new Construction Industry Security of Payment Ordinance, which is aimed at improving cash flow certainty in the construction industry. The introduction of the new law aligns well with the collaborative principles of NEC contracts, which emphasise proactive risk management and dispute resolution. NEC users will benefit from streamlined payment processes, reduced risk of payment disputes and better project delivery.

Posted by NEC Contracts at 2025-05-27 06:00:02 UTC