Construction is a $1.7 trillion industry worldwide, contributing between 5 and 7 percent of GDP in most countries. However, it is also an industry that is highly vulnerable to corruption due to its inherent characteristics....more
7/18/2024
/ Bribery ,
Civil Liability ,
Construction Contracts ,
Construction Industry ,
Construction Project ,
Contract Terms ,
Corruption ,
Criminal Liability ,
Financial Crimes ,
Fraud ,
Hong Kong ,
Saudi Arabia ,
Serious Fraud Office (SFO) ,
Singapore ,
Surveys ,
UK ,
UK Bribery Act ,
United Arab Emirates (UAE) ,
White Collar Crimes
The long-anticipated Construction Industry Security of Payment Bill (“Bill”) was gazetted on 17 May 2024 and was introduced into LegCo for its first reading on 29 May 2024. The Bill aims to establish a legislative framework...more
The Hong Kong Edition of the New Engineering Contract (“NEC”) was published in July 2023 in a joint undertaking with the Development Bureau (“DEVB”) of the HKSAR Government (“Government”). ...more