The NSW Security of Payment Act
This video gives you a basic overview of the NSW Security of Payment Act. There is of course much more to it, but if you only have a brief knowledge of the Act then this video is a great starting point.
The New South Wales Security of Payment Act is known formally as:
The Building and Construction Industry Security of Payment Act 1999. It came into force in 2000 and has since had a number of amendments. It has become the model for the version of the Acts that have come into effect in all Australian States except Western Australia and the Northern Territory; whose adjudication process is based on a British model.
Every year there are around 700-1000 adjudication applications in NSW, although given what the industry is like there should be far more. We have found that once you get to understand how the Act works, you will use it again and again to recover what you are owed.
Contractors Debt Recovery has been running Payment Claims and Adjudications under the NSW Security of Payment Act since 2006 and recovers about half a million dollars every month nationwide.
To all subcontractors, please don’t be stood over by Builders. We currently engaged Anthony from Contractors Debt Recovery to help us recover $45,800.00 from a major builder who, as most of them think don’t have to pay their final accounts, on the pretence that subbies are all small and wont chase it up through the courts due to the time and money it would cost. After speaking to Anthony he told us how to protect ourselves against this occurring and how to go about recovering the monies owing.
Thanks To Anthony and his team after a period of 2 months we recovered our outstanding Monies, and now have it in our Bank where it belongs. Yes there was a cost but nowhere near if we had gone legal; and the time saved was enormous. I would encourage any subbie to speak to Anthony and his team if in the position we found ourselves in.
An overwhelming thank you to the Support of Anthony and Melanie from CDR! When we thought we would never see the money owed to us for contracts completed over 12 months ago!
With all your guidance and support and the patience with a new client the experience has been easy and ending in excellent results for our small business. We would HIGHLY recommend your services to those stuck. Your company will be who we turn to if we ever need help again… The kindest thank you C&K.
Anthony, thank you for your assistance in the above matter it was your knowledge of the act and the way you presented our case that gave us the determination that we were looking for.
I never thought they would give in; thought they would take next step and defend the discussion and with the cost of that we would have had to give in. This morning it was to our delight that we found a deposit from them for $51,340.00 in our account.
Again thank you and will be in touch if ever we require your assistance again (let me say I hope not but we do work in the Building Industry).
I just wanted to thank you very much for the successful outcome of the claim for non-payment of final invoices from the builder I was contracted to do work for. As a small subcontractor bricklayer, it is a minefield of legalities that sees me way out of my depth and throughout the whole process the CDR team were extremely positive, professional and persistent in the pursuit of recovering my monies and guiding me throughout the whole process every step of the way to achieve the best possible outcome 100% funds and expenses recovered. I would not hesitate to pass on your details to other contractors who may find themselves in the same situation and can’t thank you enough for everything you have done.
Many thanks for helping us get paid for work we had carried out on a project. Our client dug his heels in and flatly refused to pay for work done. You (CDR) submitted a professional adjudication submission which led to a painless process resulting in us receiving the full amount owed. Thank you again and we would not hesitate recommending Anthony and his team in the future.
Many thanks to Anthony and Melanie from CDR team for all your insight and support.
Our experience once again has been excellent, results excellent, and we highly recommend your services. We will not hesitate to use again.
We are a plumbing company and owed a reasonable size debt from a large contracting firm. We were recommended to Contractors Debt Recovery by another subcontractor and never looked back. Anthony and his team went to work straight away. We had hased this money for a considerable amount of time and effort but with Contractors Debt Recovery streamlined approach to adjudication we received all monies owed to us a short period of time.
Thank you Anthony & Mel for all your help and support as it was the first time we had had to go through this and you made it very simple. I would recommend Debt Recovery to anyone who is waiting on overdue payments.