Building & Construction Industry Security Of Payment Act 2002
Assessing Security of Payment Act Payment Schedules in Victoria
Who Should Assess The Payment Schedule
- Unless you are a highly experienced Contracts Administrator who has been through the adjudication process you may want to think twice about assessing payment schedules yourself.
- We know whether a payment schedule is invalid and or defective.
- We know if a payment schedule that has been served will allow the Respondent to defend themselves at adjudication and if it will stand the test of a rigorous adjudication process.
- We whether or not the Respondent has effected proper service – this is critical.
What Is A Valid Payment Schedule
A valid Payment Schedule must identify the Payment Claim to which it relates and it must schedule an amount for payment.
What Are The Critical Elements of A Payment Schedule
A strong Payment Schedule has many reasons for withholding payment.
How Must A Payment Schedule Be Served
The BCISPA 2002 is very clear; you must effect proper service.