The placement of Probuild into administration has highlighted again the importance of being diligent in using the Security of Payment legislation to assist in recovering cashflow. Moreover, saving your business.
Ensuring contractors are paying on time in accordance with the timeframes prescribed by the Security of Payment legislation is crucial to the economic survival of everyone involved in the chain of construction.
Suspension of work, adjudication, trust accounts, liens on goods supplied and unpaid, maximum periods for payment are all mechanisms that can be used to ensure parties comply with the requirements of payment obligations in the construction industry.
Contact Keystone Lawyers who can guide you through the maze to ensure you are protected by the legislation and your contract in all States and Territories.
Newcastle 02 4915 9950 Sydney 02 9021 8388 or email@example.com