Security Of Payments Act Debt Collection For Contractors
Recent changes to the Security Of Payments Act increase the chance of collecting payment for construction work and or related goods and services, and minimise your exposure to incurring extra costs when payment is not forthcoming.
A claimant can now serve a Payment Withholding Request on a principal contractor once they have applied for adjudication. This means that if a claimant is successful at adjudication under the Security Of Payments Act the claimant can have the debt reassigned from the contractor to the principal contractor under the Contractors Debts Act 1997.
A subcontractor can now give 2 days notice to suspend work under the Security Of Payments Act if a payment that is due is not paid. This means that you dont have to keep incurring costs when there is a concern that you may not be paid at all.
Security Of Payments Act Experts RECOUP Contractors Debt Recovery have successfully used the Contractors Debts Act 1997 to recover millions of dollars from the NSW Government for Reed Constructions subcontractors when most thought their situation was hopeless.
Security Of Payments Act Legislation enables timely progress which is extremely critical when debtor companies are close to failing. Contact RECOUP Contractors Debt Recovery to commence the process before it is too late and your debtor is placed into liquidation.
Security Of Payments Act adjudication determinations can only be made void or voided by the Supreme Court. Some Authorised Nominating Authorities have more adjudication determinations overturned by the Supreme Court than others. Adjudicate Today have more of their adjudicators determinations overturned than any other Authorised Nominating Authority. Many claimants decide against lodging their adjudication application with Adjudicate Today for this reason.
Call RECOUP Contractors Debt Recovery for Expert Security of Payments Act Specialist advice.
1300 RECOUP (1300 732 687)