Do both parties have to agree to adjudication?

The parties can agree on an individual to act as the adjudicator or, if agreement cannot be reached, the party who referred the dispute to adjudication may make an application to an Adjudicator Nominating Body (ANB). This is usually done by completing a form and paying the required fee.

Is an adjudicators decision binding?

Adjudicator’s decisions are: Interim-binding, that is, they are binding until the dispute is finally determined by legal proceedings, arbitration or by agreement. Usually enforced by the successful party in the Technology and Construction Court (TCC).

What happens after adjudication determination?

Once the nominated adjudicator completes the adjudication determination, the ABC DRS will inform the parties that a determination has been made. The determination will then be released to the parties once the relevant adjudication fees have been paid.

Why was adjudication introduced?

Adjudication was introduced into the construction industry primarily to prevent abuses by large employers or main contractors.

What does Section 108 loan guarantee program do?

Overview The Section 108 Loan Guarantee Program (Section 108) provides Community Development Block Grant (CDBG) recipients with the ability to leverage their annual grant allocation to access low-cost, flexible financing for economic development, housing, public facility, and infrastructure projects.

Why is Section 108 important to local government?

Smaller units of local government can get access through the state. The Section 108 Program is typically used to fill a gap in the financing for larger development projects. Section 108 also often provides the security necessary to catalyze investment from private lenders.

What was Section 108 of the Housing Act of 1974?

Section 108 of the Housing and Community Development Act of 1974 provides for a loan guarantee component of the Community Development Block Grant (CDBG) Program.

How are Section 108 funds disbursed to applicants?

Section 108 funds are disbursed on a pro rata basis – not before other financing sources. HUD provides third party underwriting guidelines to assist Section 108 applicants in deciding if a proposed third party loan is an acceptable credit risk and if the proposed collateral meets HUD’s security requirements.