Certainly. With most construction contracts, the law of the place of the work will apply to the construction contract. In a federal context, any federally procured construction project is governed by the Federal Prompt Payment for Construction Work Act. That's the prompt payment legislation that applies on federal projects. In each province, the building or construction act or the lien legislation will typically govern those holdbacks and those holdback releases.
Ontario just conducted a review of the Ontario Construction Act, which was by and large the precursor to the federal prompt payment legislation. In that review, they've now implemented that annual release of holdbacks on multi-year projects.
Again, typically a holdback will be about 10% of the construction contract that is held in trust until the substantial completion of the project. The challenge that the industry runs into, and particularly trade contractors and their supply chain, is that 10% could be millions of dollars sitting there that could be reinvested into either newer projects or new tools and technologies. By implementing that annual release of holdbacks on multi-year projects, we're just freeing up capital within the supply chain.
The owner still has all the lien mechanisms in place as far as the contract is concerned. There's no additional risk to the owner. It just frees up the capital.