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The Act : a brief overview
The object of the NSW Government's Building and Construction Industry Security of Payment Act 1999 No 46 (and the respective and similar Queensland Act ) is to ensure that any person who carries out construction work or provides goods and sevices under a construction contract is entitled to make progress Payment Claims and receive payment every month, even where the contract has no provision for progress payments.
The Security of Payment Act is created to allow the supplier of goods and services to be paid in good time for the works done as per the agreement or contract.
Links
The NSW Act
Building and Construction Industry Security of Payment Act 1999 No 46 :Click here
NSW Government Security of Payments information website :Click here
NSW Adjudication Information Kit:Click here
The Queensland Act
Building and Construction Industry Act 2004 :Click here
Qld Government Building and Construction information website :Click here
Queensland Adjudication Information Kit :Click here
Definitions
Adjudicator in relation to an adjudication application, means the person appointed in accordance with this Act to determine the application.
Authorised Nominating Authority means a person authorised by the minister under Section 28 to nominate persons to determine adjudication applications.
Claimant means a person by whom a payment claim is served under Section 13.
Construction Contract means a contract or other arrangement under which one party undertakes to carry out construction work, or to supply related goods or services, for another party.
Respondent means a person on whom a payment claim is served under Section 13.
Scheduled Amount means the the amount of a progress payment that is proposed to be made under a payment schedule, as referred to in Section 14.
Please feel free to BOOKMARK or FAVOURITE our Website as it is a good, simple description of the NSW Building and Construction Security of Payments Act ( and the respective and similar Queensland legislation ) All links to the relevant, respective Acts in Queensland and NSW are current and will be kept as such. You never know - One day you may need our services - whether it be our professional services or increasing your knowledge of the Act with our seminars. PAYMENT SECURITY SOLUTIONS ; Complete professional services for the Security of Payments Act - WE GET RESULTS !