Security Of Payments Act News

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Looming debt crisis – recover money now while people can still pay!

Australia is one of seven countries that Forbes magazine says is the “most likely to suffer a debt crisis” within the next three years.

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New South Wales Security Of Payments Act

Security of Payments Act NSW just received a massive boost from Justice McDougall of the NSW Supreme Court. McDougall confirmed that claimants have 12 available reference dates after the completion of works to serve claims under the Security Of Payments Act NSW.

CAUTION: When & How you prepare & serve Security Of Payments Act Payment Claims is critical to success at adjudication.

Read more about Security Of Payments Act NSW Caselaw…

Security Of Payments Act NSW Flowchart here – assess your progress

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Victoria Security Of Payments Act 2002

The Security Of Payments Act Legislation in Victoria has the briefest period for serving payment claims after the completion of works – 3 months.

After this time the Act can no longer be used to obtain a judgment against a debtor.

This means that as soon as the contract works are complete you must prepare and serve a solid claim under the Security of Payments Act Victoria.

Get Started Now Bank Your Money Sooner

Security Of Payments Act VIC Flowchart here – assess your progress

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Queensland BCIPA Payments Act & QBCC

Building & Construction Industry Payments Act 2004 QLD changed 15 December 2014. You no longer lodge Adjudication Applications with Authorised Nominating Authorities. You can lodge through RECOUP. Learn why you need a Reference Date to Claim. Read more…

Lodge BCIPA Adjudication Applications here. Do not risk serving an invalid claim. You only get one chance in QLD.

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Payments Act 2004 QLD Flowchart here – assess your progress

Security Of Payments Act Success Rate

Security Of Payments Act Success Rate

NSW Govt Security Of Payments Act NSW statistics say 94% of adjudications are determined in favour of the claimant. RECOUP has a 98% success rate. This makes Security of Payment & RECOUP Contractor Debt Recovery your best options to recover the money you are owed for building & construction work.

Read more…

RECOUP Contractor Debt Recovery

Claim Variations & Retentions

Claiming Variations is an art in itself. Understanding your Contract or Agreement is the most important fundamental to master so you can ensure you don’t miss out on your entitlement Read more here…

The same fundamentals apply to claiming Retentions and as for both timing is everything: Read more here…

Security Of Payments Act NSW Payment Withholding Requests increase success.

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