Security of Payment Law operates in all States and Territories and creates statutory rights to ensure that any person who undertakes to carry out construction work or undertakes to supply related goods and services under a construction contract can enforce prompt progress payments (even in the case of a dispute).
The Building and Construction Security of Payment Act 1999 helps claimants secure payments speedily without the need for litigation and expensive court hearings. Contractors, subcontractors, and suppliers are entitled to a number of rights under the Act including the right to progress payments, right to claim interest, right to suspend work or supply of goods, right to have any disputes heard by an adjudicator, and the right to initiate proceedings in court if any claim is ignored.
It is important to receive the right legal advice to be aware of the strict time frames set out by the law and to identify any errors or enforcement rights arising from an adjudicator’s determination.
We can advise and assist on Security of Payment Law in the following areas: