Security of Payment laws survey

Security of Payment laws surveySecurity of Payment laws give contractors and subcontractors the right to ‘progress payments’ for work delivered. NSW Fair Trading invite your views on the laws in a survey, which will inform a full review of the Building and Construction Industry Security of Payment Act 1999 (the Act) in late 2015.The security of payment laws are designed to ensure that contractors and subcontractors are paid promptly, moving cash down the contracting chain faster. They should also ensure that disputes over payments can be resolved quickly and fairly.The survey results will help support a complete review of the Act by NSW Fair Trading. This will include a discussion paper for public consultation (anticipated in late 2015). The discussion paper will give industry and the community an opportunity to provide their views on these laws in more detail.The survey takes around 10 minutes to complete. The survey closes on 28 September 2015. To access the survey click here. For more information on security of payment click here.