The Security Of Payments Act is legislation that was brought into being because Governments recognised that prompt payment is vital to contractors in the building and construction industry.
The object of this Act is to ensure that any person who undertakes to carry out construction work (or who undertakes to supply related goods and services) under a construction contract is entitled to receive, and is able to recover, progress payments in relation to the carrying out of that work and the supplying of those goods and services.
We recommend the use of the Security Of Payments Act for Payment Claims and Adjudication of disputes for fast resolutions at minimal expense.
Call 1300 732 687