Security Of Payment Is The Best Means Of Building & Construction Debt Recovery
There is no other means of debt recovery that even comes close to using the Security Of Payment Act for getting paid for building & construction work.
The Security Of Payment Act is the best answer for dealing with bullies, conmen, or just your plain old incompetent businessman with heart of gold and an empty wallet.
Using The Security Of Payment Act Legislation Available To You For Your Building & Construction Claim Means Fast Debt Recovery
Not only fast, but affordable. Six weeks and around 10% of the value of the debt. Unbeatable value.
Five Reasons Why You Should Use The Security Of Payment Act
There is no better, cheaper, faster way to obtain payment of your progress claim then under the Security Of Payments Act.
Firstly – Security Of Payment levels the playing field.
The whole reason the Building and Construction Industry Security of Payment Act 1999. (NSW) was brought into being was to prevent larger companies dragging out payment to smaller companies indefinitely – why wouldn’t you take advantage of legislation that demands a proper response to your payment claim within 14 days !?!
Claims made under the Security Of Payment Act cannot be ignored without significant consequences to the debtor.
Secondly – Security Of Payment makes debt recovery affordable
The Security Of Payments Act provides fairness and equity at low cost. Compared to court proceedings, the Security Of Payment Act process is a fraction of the cost.
Using Security Of Payment Act will mean you are charged approximately half of the fees up front and the other half only after we are successful. For smaller claims we only charge minimal feels up front and no success fee.
Thirdly – Security Of Payment is a fast streamlined process
The Security Of Payments Act is based on a strict process and only allows for submissions from each party at the prescribed time. In other words, the process cant be dragged out or delayed like court proceedings can be.
Fourthly – Security of Payment can be used against Government Departments
The Security Of Payments Act binds the Crown. Government departments are among the worst of bad payers so if you are waiting on payment for monthly progress claims, variations, final payments, and or retentions from a government depart pick up the phone and we will take up the fight for you using the Security Of Payment Act .
Fifthly – Security Of Payment Act doesn’t require court appearances
You don’t need to spend any valuable time fronting courts, tribunals, mediation, useless meetings etc etc… The entire process is based on written submissions.
Sixthly – Security Of Payment Act Determinations are enforceable and recoverable from the Principal Contractor
The Security Of Payments Act requires prompt payment once an adjudicator has handed down his decision and carries the same weight as a court judgment..
Why wouldn’t you use the Security of Payments Act to press for payment of your progress claim.
Security of Payment is debt recovery and collection of monies owed for building & construction work that cannot be ignored.
Security Of Payment has a 94% success rate. (Fact based on NSW Govt statistic)