Able Adjudication

NSW practitioners should note that commencing on 1 July 2010, the interest rate under s101 of the Civil Procedure Act 2005 (NSW) has changed.  This is to bring the rate of interest into line with other States.

Under s11(2)(a) of the Building and Construction Industry Security of Payment Act 1999 (NSW) the prescribed rate under s101 of the Civil Procedure Act 2005 in respect of periods on and after 1 July 2010 is now:

(a)  in respect of the period from 1 January to 30 June in any year-the rate that is 6% above the cash rate last published by the Reserve Bank of Australia before that period commenced, and

(b)  in respect of the period from 1 July to 31 December in any year-the rate that is 6% above the cash rate last published by the Reserve Bank of Australia before that period commenced.

The Bar Association link for more information can be found here.

Able Adjudication is proud to announce that on Thursday 1 July 2010 the ACT Government authorised Able Adjudication Pty Ltd as an Authorised Nominating Authority (ANA) in accordance with Section 28 of the Building and Construction Industry (Security of Payment) Act 2009 (the Act).

Able Adjudication may now accept applications and we encourage the people of ACT and NSW undertaking work in ACT to consider using our services.