In New South Wales, the Building and Construction Industry Security of Payment Act 1999 seeks to ensure that those who complete construction work under construction contracts have an enforceable and statutory right to progress payments. The Building and Construction Industry Security of Payment Act 1999, often referred to as the security of payment legislation is used by contractors and builders to safeguard payment through a simple and prompt procedure. Obtaining payment through the security of payment legislation will usually evade the requirement to initiate costly proceedings through a Court or with the extensive use of a Sydney Construction Solicitor.
The security of payment legislation establishes a procedure whereby a contractor or builder is able to recover progress payments through a cost effective and efficient procedure. This is regardless of whether the construction contract makes provision for progress payments or not. The procedure involves:-
- The making of a payment claim by the person claiming payment (usually builder or contractor)
- The provision of a payment schedule by the person by whom the payment is payable
- The referral of any disputed claim to an adjudicator for determination (rather than proceeding through the Court system)
- The payment of progress payment so determined by the adjudicator
Many contractors and builders approach our Sydney Construction Solicitors for assistance obtaining progress payments through the security of payment legislation. Our Solicitors deliver comprehensive and practical legal advice based on a solid and thorough understanding of the intricacies and nuances of building law and construction law. We invite you to contact our office.
This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.
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