SECURITY OF PAYMENTSProviding Business tools for the Australian Building and Construction Industry to assist Developers, Builders, Owner Builders and Tradespeople
Security of Payments
All States and Territories in Australia support security of payment legislation. It was developed to counter the tactic of some principals and contractors in delaying payments, or unduly reducing the value of payments, so they can use cash that is owed to their subcontractors and suppliers.
The State and Territory Security of Payment Acts provide for statutory rights for claimants.