16 Jul 2021
Ref No: 160721 (1)
In view of the increased foreign manpower cost due to foreign manpower shortages caused by the COVID-19 pandemic, an additional legislative relief under Part 10A of the COVID-19 (Temporary Measures) Act 2020 (“COTMA”) is provided to ensure that all parties along the value chain step up to co-share the increased costs.
Part 10A of the COTMA will provide further support, by allowing an Assessor to adjust the contract sum of a construction contract that satisfies the stipulated criteria to address foreign manpower cost increase if parties to the contract are unable to re-negotiate the construction contracts. The relief period for Part 10A will be from 01 Oct 2020 to 30 Sep 2021 (or any extended date as prescribed).
To help our members better understand how Part 10A of the COTMA works, ASPRI has partnered with Mr David Shanmugam, Counsel of Netto & Magin LLC, to organise a webinar titled, “Understanding Part 10A of the COTMA” on 30 July 2021 (Fri).
- Objective of Part 10A of the COTMA
- How does it help subcontractor’s ad stake holders defray man power cost?
- The role of the Assessor and the objectives of claiming cost
- Discussion about the dispute resolution provided under the Act
- Case studies discussion
- Q&A session
Date: 30 July 2021 (Fri)
Time: 10:00am to 11:00am
Our Warmest Regards,