Security Of Payments Act

Security of Payments Act are laws which were brought in by state governments to help people and companies working in the building & construction industry recover money they are owed quickly and cheaply. It has traditionally been very hard for smaller contractors, suppliers and consultants to get paid when a dispute arises or the head contractor encounters financial difficulty. Security Of Payments Act helps. Security Of Payments Act means people who want to short pay you, or not pay you at all wont get away with it easily if at all. As soon as you start the Security Of Payments Act process time is up for your client and they can no longer muck you around without serious consequences. If a Security Of Payments Act claim is ignored it becomes a statutory debt and it is only one or two steps to turning it into a judgment debt, and then you can enforce the judgment debt with the full force of general civil law.

Security Of Payments Act Is The Best Solution For Building & Construction Contractors Debt Recovery

Security Of Payments Act Solutions
Security Of Payments Act Success Rate is 94%. It has traditionally been very hard for smaller contractors, suppliers and consultants to get paid when a dispute arises or the head contractor encounters financial difficulty. Security Of Payments Act turns that around with a quick, cheap fast solution.

The Security Of Payments Act Legislation was brought in, first, by the New South Wales Government in 1999, and then the other states not too long after, to bring fair balance to the debt collection process for smaller businesses and one man operations in the building & construction industry. The Security Of Payments Act process takes about six weeks all up and the intention of the Act is to ensure continuity of payment to contractors who have completed work under a building & construction contract. A rule of thumb for cost is 5% – 10% for out of pocket expenses and about 10% for adjudicators fees which are recoverable.

Security Of Payments Act Statistics

According to Government statistics approximately 94% of all claims that go to adjudication under the Security Of Payments Act are determined in favour of the claimant. That is very good news if you are owed money for construction work and or related goods and services.

Security Of Payments Act Makes Debt Collection For Contractors The Way It Should Be

Security Of Payments Act means that you have a very fast, low cost,successful way to get your outstanding invoices paid. If you didn’t have the Security Of Payments Act laws to use to get paid for building & construction work you just wouldn’t have an even chance of getting a fair go. Security Of Payments Act means you don’t have to outlay an amount of money that is a significant proportion of the debt you are already owed, to recover what is rightfully yours to begin with.

Security Of Payments Act Provides Powerful Debt Collection Help

In essence, Security Of Payments Act is a fast track to a judgment. This is the beauty of the Security Of Payments Act; what would otherwise take 10 times as long, no exaggeration, cost you four times as much, and only give you a 50 – 50 chance of success, is now available to you through the Security Of Payments Act. Traditional court proceedings just don’t cut it when you’ve got a fast track, low cost, highly successful solution like the Security Of Payments Act to use.

Security Of Payments Act Specialist Advice Gets Your Debt Recovered And Gets You Trained

You deserve to get the money owed to you. In the past, 94% of claims have been determined in favor of the claimant. But the amendments may affect how claims decisions are go. If you need help in ensuring that your outstanding invoices get paid, contact 1300-RECOUP (1300-732-687). Recoup is staffed by a team of experts in the Security of Payments Act. With a 98% success rate, you can rely on our team to recover the money you are owed. Over the years, we have recovered over $100 million in contractor payments. Wherever you are in Australia, we have a specialist available to help you. But it won’t stop with recovering your debt for you. We will equip you with Security Of Payments Act Know How that will help you work smarter and safer in the future.

Security Of Payments Act Help - Contact Recoup Contractor Debt Recovery