The purpose of the Security Of Payment Act NSW legislation is to assist cashflow of small businesses.
The building and construction industry is notorious for under payment and non payment.
The remedies available to a creditor who is owed money for building and construction work are primarily:
- Legal action through the courts
- A tribunal hearing through NCAT
- A Security Of Payment Act NSW claim
Of these options the most desirable of the three if it is available to you is a Security Of Payment Act NSW claim.
This is for several key reasons:
- It is a fast, streamlined process with a set timetable
- Costs are fixed and low compare to the other options
- The Security of Payment Act NSW is designed to assist claimants resolve a payment dispute – it is geared in favour of the claimant.
Enquire here if you can use the Security Of Payment Act NSW to recover the money that you are owed.