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ARTICLE · 21 SEPTEMBER 2022

Discussion About The Main Reforms & What You Should Do – General Protections, Payment Regime, Adjudication Process.

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Discussion about the main reforms & what you should do – general protections, payment regime, adjudication process.

AustraliaReal Estate and Construction
Murray Thornhill
Murray Thornhill
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Cash flow is the lifeblood of the construction industry, so much so that the interruption of cash flow in construction projects commonly forces construction companies into insolvency, leaving many stakeholders in the lurch. To provide a more effective and fair process for parties operating in the construction industry to secure payment on projects and keep the cash flow pipeline flowing, the WA government has introduced the Building and Construction (Security of Payment) Act 2021 (WA) (BCISP Act).

Does the BCISP Act apply to me?

If you enter into a construction contract on or after 1 August 2022 for the provision of construction work or the supply of goods and services for use in construction work in WA, then it is likely that the BCISP Act will apply to you. There are some exceptions, for example, where the construction contract is between a builder and individual homeowner for residential building work that is less than $500,000. If you are unsure whether the

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