Security of Payment
Security of Payment adjudication is a form of dispute resolution developed specifically for the Building and Construction Industry which in essence provides a quick and effective decision process on payment disputes to enable cashflow down the contract chain.
All States and Territories have introduced legislation to enable adjudication of payment disputes in the construction industry. The various Acts can be used by companies or individuals who have entered a contract for construction works and/or goods and services. The contract can be oral or written.
All of these legislative schemes include strict time frames and care must be taken to ensure these are adhered to. A failure to provide a document in the required time may cause a loss of rights. For a full appreciation of your rights and obligations it is advisable to consult the relevant legislation and/or obtain professional advice.
The guidance material provided by the respective government agencies which details the specifics of each Act should also be read. Just click this link to the respective Adjudication Schemes.
Quick links:
- States & Territories
- Security of Payment History
- Training and Promotion