No guarantee, no deal?

The Sejm has taken a vote on the Construction Payment Guarantees Bill, a proposal which is compliant with EU law. If senators also vote in its favour and the President gives it his seal of approval, the law will soon provide construction firms with better protection against dishonest investors The key principle of the proposal is to grant contractors the right to demand bank guarantees, or in some cases State Treasury guarantees, from investors as proof that the latter are in a position to meet payment deadlines for all completed work. If a contractor does not receive such a document within a certain period, they will have the right to cease construction and suffer no legal consequences. Success in the SejmThe resolution, fiercely supported by contractors, is to counteract payment hold ups which are one of the key problems in the business. The proposal was drafted by experts from a number of construction firms, the National Union of Construction Employers and the "Budowlani" trade un