Truss’ Post

The Construction Act has made strides in ensuring fair treatment in construction contracts, particularly with mandated payment requirements. Adjudication, a powerful tool introduced by the Act, is now crucial in resolving payment disputes swiftly and effectively. It's remarkable how often disputes escalate unnecessarily, costing time and money. However, we consistently secure adjudicators' awards in favour of subcontractors like you, ensuring you receive their rightful payments promptly. #subcontractors #paymentdispute #constructionact

Late payment issues in the construction industry are well-known for causing acute points of contention between clients and suppliers. Allan Owen and Clarice Harper-Smith outline some of the options available to public sector authorities and the broader construction industry to avoid these issues: https://bit.ly/3xfXZsT #procurement #construction #contracts

#payment Term's 🏠 Most construction contracts between main contractors and their subcontract are based on a Pay-When-Paid term – meaning that the contractor will pay the subcontractor after receiving payment from the client for the respective invoice. Typically, the contract also gives the contractor a duration of 30 days to process the payment after receiving it from the client but a monthly invoice is agreed upon in case the main contractor’s payment is delayed. #qs #payments #commercial #quantitysurveyor

Unfair Sub-Contract term of the week to be wary of and to reject: CONDITION PRECEDENT TO TIME AND MONEY ENTITLEMENTS It is a Condition Precedent to entitlement to an adjustment to the Sub-Contract Sum, including any time implications that any adjustment is agreed between the Contractor and the Sub-Contractor within 28 days of issue of any written instruction, variations or delay to the Works. • As a general principle, any Condition Precedent wording should always be a red-flag requiring amendment before the Subcontractor can accept the clause. • The mind boggles at this one – apparently the Contractor just has to fail to agree to ‘any adjustment’ within 28 days and then the Sub-Contractor automatically loses all of his time or money entitlements. • This is a self-serving circular provision, which although likely to be unenforceable in reality, should be struck out to avoid the substantial potential for disputes arising from a Contractor seeking to take advantage. #subcontractors #construction #paymentdispute #rjhconsulting #commercialawareness

The Federal Prompt Payment for Construction Work Act came into force effective Dec. 9, 2023.   The new legislation aims to tackle payment delays along the contracting chain and enhance financial stability in the industry, protecting vital construction jobs and making it easier to do business with the federal government.   In this article, my colleagues Ted Betts, Sahil Shoor, and Kathy Jiang provide key takeaways from the Act: https://bit.ly/49o5DPH #gwlgTO #infrastructure #constructionandengineering #realestate #commerciallitigation

Ready to go again with Construction Industry Federation (CIF) on the payment process under the Construction Contracts Act 2013. We are 8 years post act commencement and the number of contractors that are unaware of the legislation appears as big as ever. #knowledgeispower #quantitysurveyor #quantitysurveying

In the construction industry, laws are crucial for maintaining relationships and protecting all parties involved. Written contracts are essential for safeguarding everyone's interests, especially when it comes to payment clauses that affect subcontractors and suppliers. Stay informed and compliant to avoid any disputes or loss of payment rights! #ConstructionLaw #ProtectYourBusiness #NationwideNotice #NOI #MechanicsLien

The Federal Prompt Payment for Construction Work Act came into force effective Dec. 9, 2023.   The new legislation aims to tackle payment delays along the contracting chain and enhance financial stability in the industry, protecting vital construction jobs and making it easier to do business with the federal government.   In this article, my colleagues Ted Betts, Sahil Shoor and Kathy Jiang provide key takeaways from the Act: https://bit.ly/49o5DPH #gwlgTO #infrastructure #constructionandengineering #realestate #commerciallitigation

🚧 Understanding the Security of Payments Act: What It Means for You in Construction! 🏗️ Are you in the construction industry and worried about delayed payments? The Security of Payments Act is here to protect you! It ensures that everyone from subcontractors to large construction firms receives timely payments, helping maintain financial stability and reduce disputes. 𝗣𝘂𝗿𝗽𝗼𝘀𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗔𝗰𝘁: 💼 Ensures timely and appropriate payment. 🛠️ Supports economic integrity in construction. 🤝 Reduces payment disputes, fostering a cooperative work environment. 𝗦𝗰𝗼𝗽𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗔𝗰𝘁: Applies to all construction-related activities across Australia—whether it's building a high-rise or laying down a new road. Covers all parties in construction, from contractors to consultants. Encompasses building services, related goods like scaffolding and tools, and major engineering projects. State-Specific Legislation: While the core purpose remains consistent, specific rules vary by state, catering to the unique needs of each region. 𝗪𝗵𝗼 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀? Every professional in construction, big or small, is protected under the Act. This promotes a culture of prompt payment and fair dealing. Stay informed and protect your business! For a detailed guide on how the Security of Payments Act can help you, click the link! https://lnkd.in/eFwbrd9y #ConstructionIndustry #PaymentSecurity #SOPA #BuildingAndConstruction #FairPayment

🚧 Understanding the Security of Payments Act: What It Means for You in Construction! 🏗️ Are you in the construction industry and worried about delayed payments? The Security of Payments Act is here to protect you! It ensures that everyone from subcontractors to large construction firms receives timely payments, helping maintain financial stability and reduce disputes. 𝗣𝘂𝗿𝗽𝗼𝘀𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗔𝗰𝘁: 💼 Ensures timely and appropriate payment. 🛠️ Supports economic integrity in construction. 🤝 Reduces payment disputes, fostering a cooperative work environment. 𝗦𝗰𝗼𝗽𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗔𝗰𝘁: Applies to all construction-related activities across Australia—whether it's building a high-rise or laying down a new road. Covers all parties in construction, from contractors to consultants. Encompasses building services, related goods like scaffolding and tools, and major engineering projects. State-Specific Legislation: While the core purpose remains consistent, specific rules vary by state, catering to the unique needs of each region. 𝗪𝗵𝗼 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀? Every professional in construction, big or small, is protected under the Act. This promotes a culture of prompt payment and fair dealing. Stay informed and protect your business! For a detailed guide on how the Security of Payments Act can help you, click the link! https://lnkd.in/eFwbrd9y #ConstructionIndustry #PaymentSecurity #SOPA #BuildingAndConstruction #FairPayment