Security of Payment advice
Security of Payment
Sometimes disputes arise over payment between individuals and organisations for works relating to building and construction. Urban Lawyers provides advice and representation to both claimants and ...
Security of Payment
Sometimes disputes arise between parties in relation to payment claims by individuals and organisations for construction works and related goods and services. The Building and Construction Industry Security of Payment Act 2002 known as the SOP Act helps ensure that any person who carries out construction work or supplies related goods and services under a construction contract gets paid in a timely manner by a fast tracked adjudication process.
Urban Lawyers has significant experience with security of payment matters and provides advice and representation to both claimants (usually contractors and subcontractors) to successfully pursue a payment claim and respondents (usually principals and contractors) to effectively respond to a payment claim.
To be entitled to a progress claim the claimant must serve a payment claim on the person who is liable to make the payment under the construction contract (respondent). To be valid under the Act, a payment claim must identify the relevant construction work or related goods and services, indicate the amount claimed to be due (claimed amount) and state that it is made under the Act. If a respondent is served with a valid payment claim then it must respond by serving the claimant with a payment schedule. A payment schedule sets out what the respondent assess is due.
The Victorian Building Authority monitors the operation of the SOP Act. It does not nominate adjudicators or take part in payment disputes. This is the role of Authorised Nominating Authorities (ANAs) who are authorised by the VBA to perform this service.
If you require assistance with a Security of Payment matter, please contact Urban Lawyers for a complimentary initial consultation on +61 419 216 130 or complete the query form below.