Security of Payment Act

What is Security of Payment?

The Building and Construction Industry Security of Payment Act 2009 (the Act) establishes a process to provide contractors with a quick and relatively inexpensive way to get paid or recover money owed to them. It applies to building and construction projects in Tasmania, whether private or public sector. Importantly, in Tasmania it applies to contracts between builders and home owners in the domestic building and maintenance environment.

This legislation represents an ongoing commitment by the Tasmanian Government in maintaining the stability and efficiency of the building and construction industry. The Act's hallmarks are quick adjudication of disputes over progress payments and provides for a fairer and quicker payment system for all parties in the industry.

Want more information?

More informations is available at the Workplace Standards Tasmania website

NECA members can also call our Industrial Relations department for further infomration regarding the Act, 03 965 5533.