Security of Payment Act - Subcontractors
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. However, 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 draconian requirements imposed by the NSW Act. This means that if you are seeking to recover money using the Act, you have to be on your toes and move very fast. If you are not sufficiently familiar with the Act to do that you have a problem.
IF YOU HAVE A PROBLEM OF THIS KIND AND DO NOT KNOW WHAT TO DO, CONTACT US OR ANOTHER FIRM OF BUILDING AND CONSTRUCTION LAWYERS IMMEDIATELY.
Please contact us if you need assistance with a claim under the Building Industry Security of Payment Act.
Telephone 02 9689 3992 Suite 7, Level 1, 2 Castlereagh Street, Penrith NSW 2750 Liability Limited by a scheme approved under Professional Standards Legislation.