This is the second article in the series on the contractual Security of Payment (“SOP”) scheme in Hong Kong under the Technical Circular (Works) No. 6/2021 (the “Circular”) issued by the Development Bureau on 5 October 2021. In our first article, the authors explored the overall structure of the adjudication process envisaged under the contractual SOP scheme. In this article, the authors will examine the nature of adjudication – in particular, the binding effect of an adjudication decision.
To read full text, please download Newsletter: New Security of Payment Provisions in Hong Kong Public Works Contracts: Binding effect of interim account adjudication decisions on final account assessments.