Security Of Payment Act NSW
Debt Recovery for building & construction contractors who have worked on a construction project within the state of New South Wales.
Brief Description of Security Of Payment New South Wales:
Name of the Act: BUILDING AND CONSTRUCTION INDUSTRY SECURITY OF PAYMENT ACT 1999.
Object of the Act: To ensure continuity of payment to any person who undertakes to carry out construction work under a construction contract.
Rights to progress payments: On and from each Reference date any person who has undertaken construction work under a construction contract is entitled to a progress payment.
Payment Claims: A payment claim must identify the construction work, must indicate the amount claimed, & must state that is is made under the Act.
Payment Schedules: A payment schedule must identify the payment claim to which it relates & must indicate the amount of the payment (if any) the respondent proposes to make.
Second Notices: If no payment schedule is received a claimant must serve a second notice warning the respondent of the claimants intention to apply for adjudication.
Adjudication Applications: A claimant may apply for adjudication of a payment claim if he disputes a payment schedule or if full payment isn’t received by the due date.
Adjudication Responses: A respondent may lodge an adjudication response if they have served a valid payment schedule.
Adjudication: An adjudicator will review both parties applications / responses, written submissions, & written and photographic evidence
Determination: Once the adjudicator has determined whether the claimant is entitled to payment and who is responsible for his fee the determination is released upon payment of the adjudicators fee.
Act binds the Crown: This Act binds the Crown in right of New South Wales and, in so far as the legislative power of Parliament permits, the Crown in all its other capacities.
Judgement: If the Respondent does not pay within 7 days an adjudicators certificate can be obtained and entered as a judgement on the court record.
Enforcement / Recovery: Once judgement is obtained it can be enforced and the monies recovered from the debtor.
For a more detailed explanation of the above visit Security Of Payment Act NSW information.
Security Of Payment Analysis For Your Claim
To discuss and understand exactly where you may be at in the Security Of Payment process and the best way forward call us and we will help you move forward with the process.
Debt recovery & collection of building & construction debts requires a unique approach to each situation – no two Security Of Payment matters are the same.
We treat all matters confidentially and your initial enquiry is a Free Consultation.
Security Of Payment Timelines For NSW Legislation
See the NSW Security Of Payment Flowchart here.
Security Of Payment Act NSW Assistance
See here for how the Security Of Payment Act NSW helps claimants get paid quicker.