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Copyright © 2012-2017 ACN 153 203 902. All Rights Reserved.

Information on this Security Of Payments Act website is not legal advice and should not be construed as such.

RECOUP Debt Recovery Pty Ltd, Master CAPI Lic No 411058258, carries out all debt collection services for Security Of Payments Act Pty Ltd

Security Of Payments Act Laws Are State Based Legislation

Security Of Payments Act Social Media

Security Of Payments Act Adjudication Results Are Challenged In The Supreme Court Of Each State. Keep Up To Date With Caselaw here.
Security of Payments Act Services.

Security Of Payments Act Changes Coming Nationwide

The Federal Government has appointed John Murray AO to review current Security Of Payments Act legislations of each state, consult industry stakeholders and report to government with recommendations to replace state base Security Of Payments Act laws with one federal Security Of Payments Act law.

Security Of Payments Act laws remain the fastest, least costly, and most successful method of solving payment disputes and recovering bad debts in the building & construction industry. This Federal Government initiative will streamline the Security Of Payments Act processes for those who work across multiple states.

Security Of Payments Act NSW

Changes to the Building & Construction Industry Security Of Payment Act 1999 NSW Legislation include requirements that have been detailed in the draft Regulation which was open to the public for comment up to 15 January 2014, now applies to new contracts formed on or after 21 April 2014 between head contractors (or principals) and subcontractors for non-residential building projects worth over $20 million.

The changes to Security Of Payments Act NSW are:

• Head contractors are now required to deposit subcontractors’ retention monies into approved bank accounts with approved deposit-taking institutions.
• These Retention monies are not available to head contractors for their general use.
• Fines of up to $22,000 for breaches of the proposed Regulation now apply .
• Head contractors are now required to undergo an annual audit for each account in operation.
• Compliance officers are now empowered to investigate and obtain information on individual accounts where complaints are made in respect of Security Of Payments Act NSW claims.

We welcome your feedback on how the Security Of Payments Act NSW and it’s processes can be improved.

Security Of Payments Act Victoria claims which are intended to be served under the Building & Construction Industry Security of Payment Act 2002 (VIC) must be served within 3 months of last carrying out construction work and or supplying related goods and services for a construction project. This timeframe is critical and Security of Payments Act claims not served in time will not succeed at adjudication.

Further information for claimants in relation to Security Of Payments Act claims for construction work and or related goos & services carried out / supplied for construction projects situated in Victoria is available starting in the VIC section of this website containing all necessary information for claiming under the Building & Construction Industry Security of Payment Act 2002.

Building & Construction Industry Security Of Payments Act 1999 Amendments which came into force for Construction Contracts entered into on or after 21 April 2014 have special significance for Head Contractors who fail to include a Supporting Statement with their Payment Claim, how many invoices can be served for construction work per month, and payment terms generally.

Assistance in preparing Construction Contracts, Payment Claims, Variation Claims, Extension Of Time Claims and Adjudication Applications including lodgement assistance is currently available through this website. We will help you prepare, lodge and manage your adjudication application through to entering and enforcement of judgement and collection of the debt owed. The NSW section of this website contains all of the information required for claiming under the Building & Construction Industry Security Of Payments Act 1999.

Building & Construction Industry Payments Act 2004 Queensland Reforms proposed by Andrew Wallace have been reviewed by a Parliamentary Committee and have now been adopted by the Committee. The reforms are still expected to be enacted sometime in November 2014. We will advise of the actual changes and the date that they will come into force once the date of proclamation is confirmed.

Adjudication Applications lodgement assistance is currently available through this website. We will help you prepare, lodge and manage your adjudication application through to entering and enforcement of judgement and collection of the debt owed. The QLD section of this website contains all of the of the information required for making a BCIPA claim under the Building & Construction Industry Payments Act 2004.

Building & Construction Industry Payments Act 2004 Queensland (BCIPA) is the only legislation of its type in Australia that has case law where the authority is that if a construction contract is terminated  a claimant is precluded from serving a payment claim under the BCIPA legislation after the termination date. This means that unless there are unused reference dates that pre-date the termination date you cannot use the BCIPA.

Before you terminate a construction contract seek expert advice. Call 1300 224 772 for expert advice.

If the other party to a construction contract issues a termination notice seek expert advice immediately. Call 1300 224 772 for expert advice.