Owner-Occupiers Beware: NSW Security of Payment Act Now Applies | K&L Gates LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Tuesday, April 20, 2021
The last remaining exemption for owner-occupier construction contracts from the operation of the
Building and Construction Industry Security of Payment Act 1999 (NSW) (SOP Act) was repealed on 1 March 2021. Contractors under owner-occupier residential construction projects will be entitled to make claims for payment under the SOP Act, including making and enforcing adjudication applications.
This change to the SOP Act will significantly change how payment disputes are dealt with on owner-occupier construction projects, place significant burdens owner-occupiers to become familiar with the security of payment regime, and potentially lead to more payment disputes on owner-occupier construction projects by giving contractors a further (and often quicker) avenue for pressing their claims.