Getting paid, in full and on time, is vital to the survival of
any business because money is the life-blood of a business.
However, in tough economic times, maintaining cash flow to your
business can become more difficult and costly - especially in the
building and construction industry.
The Building and Construction Industry Security of Payment Act
1999 (Act) was designed to enable suppliers, contractors and
subcontractors in the building and construction industry to get
paid more quickly and avoid expensive construction disputes.
The Act applies to all contracts (written and oral) for building
and construction work or for the supply of related goods or
services within NSW and covers a wide range of claims commonly made
in the building industry including progress claims, final payments,
most variation claims and milestone payments. However, the Act
doesn't apply to domestic building contracts, financial
contracts with financial institutions or construction
