Recently, The National Trade Contractors Coalition of Canada (NTCCC) conducted a Prompt Payment Summit to allow members to highlight progress that has been made at the provincial level and focused on strategies to engage other concerned stakeholders who operate regionally and at the federal level.
In the United States, 49 of the 50 states have adopted a prompt payment legislation and globally, the United Kingdom, Ireland, Australia and New Zealand have also enacted similar laws. Most recently, the European Union has adopted a Prompt Payment directive which all of its member states are required to translate into domestic law. Canada needs to follow suit.
FIELDBOSS pledges to support the efforts of the NTCCC and would like to see this legislation happen as quickly as possible. What are your thoughts on the Prompt Payment Directive? We would love to hear from you. Weigh in on the comments section!