Security of Payments Act Blog by Recoup

Add interest charges on to the amount due on your Payment Claims.

Call to learn how this can be done legally.

RECOUP warned of trouble ahead for Claimants and Respondents as a consequence of the Security Of Payments Act NSW changes that came into force on 21 April this year. And as we expected subcontractors are having to wait longer for payment and are wasting time and money on adjudication only to find out their payment claim is invalid. This can all be avoided.

Subcontractors set to lose $28 million.

Why is this still able to happen ?

In 2012 Reed Constructions Australia Pty Ltd went under owing subcontractors close to $100 Million.

See Steve Nolan Constructions Pty Ltd Administrators Appointed Current ASIC Extract here

RECOUP prepares adjudication applications if a claimant is at that stage or we can help you get to that stage and then see the entire Security Of Payment Act  claim and enforcement process through with you to the collection of the debt.

This RECOUP Contractor Debt Recovery Information Kit is designed to help you work your way through all of the issues that arise during a construction project in such a way that the provisions of the Security Of Payment Act Legislation will support your rights to your entitlements to be paid for the construction work you have carried out and or the related goods and services you have supplied.

To understand if you are entitled to apply for adjudication read the article below and call us to discuss.

A certain genius argued that a “Payment Certificate” was a Payment Schedule for the purposes of the Building & Construction Industry Payments Act 2004. Four Supreme Court Judges have now said that self proclaimed genius was wrong.