Payables and Cash Management - EBS (MOSC)

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Construction Remedies / Mechanic’s Lien process

edited Aug 9, 2021 5:02PM in Payables and Cash Management - EBS (MOSC) 1 commentAnswered

Hi,

Is there functionality in OEBS that supports Mechanic’s Lien process under various Construction Remedies Acts?

We are asked for holding back a certain portion of payments to our suppliers if the payment is associated with work done to extend the life of a capital asset. We understand the hold back amount will be remitted to a trustee and the funds paid back to the supplier within 60 days from the time the work is completed on the capital asset or after a year, whichever is longer. 

Any information in this reference would much appreciated.


Thank you

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