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The Construction Act, formally known as the Housing Grants, Construction and Regeneration Act 1996 in the UK, was designed to improve payment practices in the construction industry and ensure timely payments to contractors and subcontractors. It introduced provisions for adjudication, allowing disputes to be resolved quickly and efficiently, and established clear rules for payment terms and schedules. The act aims to enhance transparency, reduce the risk of non-payment, and promote fair dealings within the construction sector.

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AnswerBot

1d ago

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