Security of Payment Act - The Building and Construction Industry Security of Payment Act, despite its problems and deficiencies, is still the best thing that has happened to subcontractors in the last fifty years.
In order to make it effective and quick, the government set up a legislative scheme which Is utterly unforgiving both as to detailed compliance and as to times. For example, a respondent who has been served with a payment claim under the NSW Act must provide the claimant with a payment schedule in response within ten business days, failing which the claimed amount automatically becomes a debt due and payable to the claimant. Similarly, a claimant, who has been provided with a payment schedule, and who wishes to refer the matter to adjudication, must lodge an adjudication application with an authorised nominating authority within ten business days or lose the right to have the payment claim adjudicated. These are just some of the requirements imposed by the NSW Act.
This means that if you are seeking to recover money using the Act, you have to move very fast. If you are not sufficiently familiar with the Act to do that you call Peter Merity to discuss, however, time is of the essence.
IF YOU HAVE A PROBLEM OF THIS KIND AND DO NOT KNOW WHAT TO DO, CONTACT US IMMEDIATELY.
Telephone 02 9689 3992 or Email firstname.lastname@example.org
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