In a country like Australia where its construction industry is in its prime, the protection that the Security of Payment provides must also be in its maximum enforcement. The rights of contractors, subcontractors, and suppliers are the primary priority of the Security of Payment Act. It enforces their rights to progress payments for the construction services that they have provided as well as the goods and materials that they have supplied. Security of Payment also promotes a fair process that caters to both builders and owners. It gives a sense of security to the person carrying out the construction work and supplying goods and materials by receiving progress payments, while it also gives the client or the homeowner a sense of responsibility by repaying the person who worked hard for their construction project. Moreover, it also ensures a quick and inexpensive process in solving payment issues and recovering debts.
How a security of payments lawyer can help you get paid
The construction industry is well-known for late payments and non-payments. It makes up about 20% of all insolvencies or cases of those who are unable to pay debts.
Basically, the industry is approximately:
Security of Payment guarantees that subcontractors and suppliers who carry out work or supply goods and services under a construction contract can claim the money owed to them even in the case of a dispute.
This law means that the contractors cannot refuse you payment with the excuse that they need to secure payment first. You are entitled to progress claims and need not wait until the end of the contract to get paid.
Below are the rights of contractors, subcontractors, and suppliers that are enforced through the Security of Payment Act.
Right to progress payment.
Right to claim for interest.
Right to suspend the works or supply of goods.
Right to have a disputed claim be determined fairly by a government-authorised adjudicator.
Right to enter a judgment in court if your claim is ignored.
These rights cannot be contracted out of. “Paid when paid” provisions are also now void. Through the Security of Payment Act, subcontractors and suppliers are enabled to secure progress payments, which ultimately help with their cash flow.
The Security of Payment Act can resolve payment disputes such as short payment, late payment and non-payment. It is frustrating to be putting all your hard work to finish something on a building project only to get paid roughly the amount you agreed on or, worse, get nothing at all. With the Security of Payment Act, all these issues can be resolved without spending too much time, money and effort.
The Security of Payment Act is important because:
You need to enforce your contract rights. Enough is enough. You need to draw the line somewhere. Get advice from Security of Payments lawyer now. Your first call is free.
You need to act quickly! You may have rights to recover your debt using the Building and Construction Industry Security of Payments Act 1999 (NSW). Call now for your first free consult with an expert Security of Payments lawyer.
The Security of Payments law has strict time frames that need to be complied with to enforce your legal rights. Get the right advice from a Security of Payments lawyer. Your first call is free.
It sounds like you have a payment schedule. This means they owe you a statutory debt under the Security of Payments Act. Call a Security of Payments lawyer now. First phone consult is free.
You need advice on whether or not the defect is legitimate or not. You can get the right advice by speaking with an expert Security of Payments lawyer. Your first call is free.
If your contractor keeps on giving you the runaround regarding payment for work you’ve already done, call on a building lawyer to check if they are in breach of their contract. What they are doing is illegal and unfair to you, so take control of the situation!
A specialist building and construction lawyer can help you take the legal steps to get you paid.
To ensure that money will continuously flow into your business throughout doing a project, you must properly set up progress claims. The actual payment will be based on a verified percentage of project completion.
As a specialist construction law firm Contracts Specialist has the expertise and experience to guide you on how to properly craft payment claims and payment schedules for your building business.
Adjudication is the legal process for resolving disputes without resorting to lengthy and expensive court procedures. This can be an overwhelming process, but Contracts Specialist can guide you through it.
As a specialist construction law firm, we have extensive experience in court proceedings, drafting of submissions and other supporting documents for adjudications and dealing with construction solicitors. You will be in good hands.
Contracts Specialist is a construction law firm that has experience in acting for all parties in construction disputes, including homeowners, contractors, and sub-contractors.
In terms of debt recovery, we will look over your your contracts and documents to pinpoint exactly where you stand legally. We will prepare claims and schedules, and draft submissions for adjudication to ensure that you will receive the construction payment you rightfully deserve.
Legal interpretations of a construction contract can be confusing. A specialist building and construction lawyer can help explain them to you in terms you would easily understand
‘Due Diligence’ refers to taking reasonable steps in relation to a particular course of action. In a construction contract, it can have a number of more specific meanings. It can place an obligation on the contractor tom complete the works with care and with requisite effort.
We will inform you of your legal rights.
We will help prepare your payment claim and adjudication application under the Security of Payments Act.
We will make sure your adjudication decision will be enforced.