As part of the reform process for the Building and Construction Industry Security of Payment legislation, the NSW Government is calling for industry input as they assess the feasability of introducing statutory trusts as a means to better protect subcontractors from contractor insolvency and the many far-reaching consequences. The building and construction industry experiences the highest
Amendments to the Building and Construction Industry (Security of Payment) Act 1999 (NSW) (Act) were passed by both houses of parliament in November 2018. The NSW Government has finally released its proposed amendments to the Security of Payment regulations for public consultation (Proposed Amendments). In our May SOP update we outlined the 7 key changes
Amendments to the Building and Construction Industry Security of Payment Act 2018 (NSW) (‘the Act’) passed! So what will change? What’s happened? On 21 November 2018, the NSW Government passed the Building and Construction Industry Security of Payment Amendment Bill 2018 (‘the Amendment Act’). The SOP Act ensures that contractors, subcontractors or any other persons
Change is the only constant in life, and that’s certainly the case on construction projects. Generally, under a construction contract the principal will have the ability to order a variation to the scope of works. However, variations aren’t limited to increasing or adjusting the scope of works. In the event the principal wants to reduce
With the construction shutdown period around the corner, businesses must ensure they have proper procedures for the holidays. Claims made over the Christmas period require prompt response times and a failure to respond to claims under the security of payment legislation or the Corporations Act 2001 (Cth) may have serious and detrimental effects on a
All contractors doing construction work or providing goods or services as part of construction work are entitled to make a progress claim under the security of payment legislation. The security of payment legislation aims to give fair and timely remuneration for construction work, this means that it requires prompt response times. Generally, under the security
The Queensland Government has announced the next stage of reforms to the Building Industry Fairness (Security of Payment) Act (Qld) 2017 (BIF Act) will commence on 17 December this year. What are the changes? These ‘Chapter 3’ changes will significantly change the previous regime under the Building and Construction Industry Payments Act 2004 (Qld) (BCIPA).
Is it back to the future or a brave new world with the latest changes to the security of payment regime in NSW? What’s happened? Earlier this year, NSW Fair Trading released a consultation paper on proposed draft changes to the Building and Construction Industry Security of Payment Act 1999 (NSW) (SOP Act) open for
What are latent conditions? Latent conditions in a construction project refer to those conditions which cannot be identified prior to entering into a contract. Usually this means the conditions that cannot be identified by review of the relevant project documentation, in other testing or investigations, or during a routine inspection prior to undertaking works. Latent
The NSW Government has proposed a number of significant changes to the Building and Construction Industry Security of Payment Act 1999 (NSW) (SOP Act) through a bill[1] publicly released on 22 August 2018. There are proposed reforms to the SOP Act and also the associated regulations[2]. In this article we have identified 10 key proposed