The Situation: For over a decade, all Australian jurisdictions have had in place security of payment ("SOP") legislation—statutory regimes providing for the submission and payment of progress claims, and resolution of payment...more
The construction sector in Australia has long been affected by insolvency and broader liquidity issues. In the last year, construction companies accounted for 26% of businesses that entered into insolvency, and insolvencies...more
The security of payment regime in Queensland has undergone significant reform in recent years. Since the introduction of the Building Industry Fairness (Security of Payment) Act 2017 (Qld), the regime has remained the subject...more
11/9/2020
/ Amended Legislation ,
Construction Contracts ,
Construction Industry ,
Construction Project ,
Contract Terms ,
Contractors ,
General Contractors ,
Payment Schedules ,
Payment Terms ,
Subcontractors ,
Trusts
Australia-wide, companies are navigating the uncertainties arising from COVID-19. Our previous White Papers identified the risks arising for construction projects and observed that the fallout is likely to give rise to...more
[co-author: Juan Huertas]
Even as the world gradually eases out of lockdown, deals are rekindled and services are remobilized, no one doubts that the impact of the pandemic will continue to be felt for months and, some...more
6/26/2020
/ Construction Contracts ,
Construction Industry ,
Construction Project ,
Contract Disputes ,
Contract Terms ,
Coronavirus/COVID-19 ,
Force Majeure Clause ,
General Contractors ,
Infrastructure ,
Performance Standards ,
Subcontractors
The Situation: The High Court of Australia has, for the first time, confirmed that determinations by adjudicators appointed under security of payment legislation are not reviewable for errors of law alone.
The Result: The...more
The Situation: Most construction contracts, including AS4000 and AS2124, stipulate that a final certificate is issued following completion of the work, stating the final amount payable between the parties.
The Development:...more
The Situation: Australian courts have regularly maintained that contractors must strictly comply with any express conditions for extra time or money under construction contracts, including conditions requiring written notice...more