What is the PPCLA?
It’s time to get paid! The Prompt Payment and Construction Lien Act (PPCLA) is a new law in the province of Alberta that helps construction contractors and sub-contractors get their money on time! The PPLCA came into effect on August 29th, 2022, making Alberta the third province in Canada to have a prompt payment law for the construction industry. One of the most important parts of this, is that “proper invoicing” is required in order for you to get paid – and Tradesflow is here to help with that.
Key Changes to Note
here are a few key changes to note when it comes to the PPLCA that benefit your business!
- Job owners must pay invoices to general contractors within 28 days
- Subcontractors must be paid within 7 days after contractors receive their payment
There are also extended timelines for registering liens. For those within the construction industry, you will have 45 to 60 days. For those within the concrete industry, you will have 45-90 days!
Another exciting change to the PPCLA is increasing the minimum amount owed that can be subject to a lien from $300 to $700. It allows for dispute resolution through adjudication which is quicker and less costly than going to court. Additionally, by introducing new rules that allow holdback on large, multi-year projects, money can be released without risks. You can also improve your subcontractor’s access to payment information!
Changing the name from Builders’ Lien Act to the Prompt Payment and Construction Lien Act came with much more than a name change. You can greatly benefit your business by becoming PPCLA compliant with the help of Tradesflow!
Become PPCLA Compliant and Get Paid
Make it easy to be PPCLA compliant and use Tradesflow! Our invoices are auto-filled and work for the PPCLA. Plus, you can track all of your invoices to make sure you don’t miss out on any unpaid jobs. Small business owners, administrators, work units, individual contractors or subcontractors can all benefit from Tradesflow’s easy-to-use solutions to get paid now!
If you’re interested in streamlining your company with easy-to-use software, lean on Tradesflow today. We offer the expertise and knowledge to help you organize and maintain your business for success. Don’t let the stress of figuring out the PPCLA bog you down or slow down admin for your company. With Tradesflow software and solutions, you can ensure your company is PPCLA compliant and get paid today!
For more information or questions, reach out to our team of experts!
