Security of Payment Act - Payment Claims, Schedules and Adjudications
PLEASE NOTE THAT THIS PAGE REFERS TO SECURITY OF PAYMENT IN NSW ONLY. THE SCHEMES IN OTHER STATES AND TERRITORIES ARE DISCUSSED IN THE QUESTION AND ANSWERS ARTICLE IN THE RESOURCES PART OF THIS WEB SITE.
The Security of Payment Act, or more correctly, the Building and Construction Industry Security Of Payment Act 1999, is the best thing that has happened to subcontractors in the last fifty years. Under the Act, just by serving a payment claim, you can start a process which requires an immediate response by the builder/ developer/owner or contractor who has been served. Over the last twenty years it has restored fairness in an unfair industry.
This firm was involved in some of the very first applications under the Act and we are now expert at using the Act to recover debts for our clients.
The Security of Payment Act was originally brought in to enable subcontractors to recover monies in an industry where they were not being treated fairly and claims under the Act were only to be made against respondents such as builders contractors and developers who were assumed to have sufficient knowledge of the Act to be able to respond in the times imposed by the Act. The Act has now, however, been extended to allow claims to be made against ordinary home owners who are less likely to know what to do.
IF YOU ARE A SUBCONTRACTOR NEEDING TO RECOVER MONEY OR A HOMEOWNER WHO HAS RECEIVED A PAYMENT CLAIM UNDER THE ACT AND YOU DO NOT KNOW WHAT TO DO, CONTACT US IMMEDIATELY.
Telephone 02 9689 3992 or Email email@example.com