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What is a Construction Contract? What is included as 'Construction Work' Key Definitions Payment Mechanisms under the Act Consequences of not providing a Payment Schedule What do you need to do before you suspend? Diagram illustrating the suspension process Residential Occupiers and the Act Provisions of the Act related to Residential Occupiers How do I obtain a charging order? Resolving Disputes under a Building and Construction Contract
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The Construction Contracts Act sets out a mechanism for the claiming of money under the Act and the scheduling of any amounts due known as payment claims and payment schedules. These provisions have fundamentally changed the way that cashflow occurs in the industry and creates rights and obligations on parties which were not previously in place. The Act has also abolished "pay-if-paid" and "pay-when-paid" clauses that were traditionally included in the contracts. These clauses are also known as conditional payment provisions and include clauses that make it an obligation on one party to pay another only when it receives payment from a 3rd party or when the due date for payment is conditional on one party receiving payment from a 3rd party or any other clause which acts as a pay when paid clause. To view the payment procedures under the Construction Contracts Act as a flow chart click here... |
