Construction Remedies / Mechanic’s Lien process
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