Minimising the risk of a security of payment hangover during the festive season: Update December 2011

The festive season is a common time for clients to be ‘ambushed’ by a security of payment claim.

With many offices shutting down over the festive season, the risk of failing to detect the service of a payment claim under the  Building and Construction Industry Security of Payment Act 1999 (NSW) (the Act) and not serving a payment schedule within the timeframes required are heightened. 

Establishing an internal process for identifying and responding to payment claims made in late December/early January are critical to minimising the risk of a security of payment hangover during the festive season.

To read the full update, please click on the PDF.