In brief 2024 saw a number of significant rulings in Singapore that have provided clarity on issues such as the definition of completion for construction works and the limitation period for latent defects, as well as issues surrounding the application and interpretation of the Building and Construction Industry Security of Payment Act 2004 (“SOP Act”). As readers may know, the SOP Act is fundamentally a statutory regime to facilitate cash flow in the construction industry.…
Overview and Key Provisions In brief On 27 December 2024, the Construction Industry Security of Payment Ordinance (CISPO) was gazetted, following a nine-year consultation process. This long-anticipated legislation will cover construction contracts entered into on or after 28 August 2025. Similar legislation has been in place for some time in various other jurisdictions, such as Australia, Singapore and the United Kingdom. CISPO seeks to remedy improper payment practices in the construction industry by improving contractual…