The Victorian Building & Construction Industry Security Of Payment Act 2002
Important Points To Note Regarding The Victorian Building & Construction Industry Security Of Payment Act 2002 VIC Legislation:
- The Act cant be used against Debtors / Respondents who are living in a residence where the construction works were carried out.
- A Claimant must a have a Construction Contract within the meaning of the Act in place with the Debtor / Respondent.
- A Claimant can only serve one Payment Claim per Reference Date (there can only be one Reference Date per month unless otherwise expressly agreed to within the contract)
- A Claimant must serve a Payment Claim within 3 months of working on the project
- A Payment Claim must meet all of the requirements of the Act to be valid.
- A Debtor / Respondent must provide a Payment Schedule to the Claimant if they wish to defend themselves in Adjudication.
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RECOUP are Security Of Payments Act Experts & Debt Recovery and Debt Collection Specialists for Building and Construction Contractors. RECOUP aims to keep all stakeholders in each state up to date with changes and developments in each state’s legislation that impact claiming payments for building and construction work. RECOUP provides information and assistance regarding the following legislation:
New South Wales: “Building and Construction Industry Security of Payment Act 1999″
Victoria: “Building and Construction Industry Security of Payment Act 2002″
Queensland: “Building and Construction Industry Payments Act 2004″
Australian Capital Territory: “Building and Construction Industry (Security of Payment) Act 2009″
South Australia: “Building and Construction Industry Security of Payment Act 2009″
Tasmania: “Building and Construction Industry Security of Payment Act 2009 (No.86 of 2009)”