New reporting requirements for Security of Payments legislation
Having problems getting paid? You must report it to the ABCC
The new Security of Payment regulations are good news, but you need to understand your role in reporting any disputed or delayed progress payments and the implications of not complying with the new reporting requirements that apply from 1 September 2018.
Support to recover outstanding payments
If you’re owed money by an organisation covered by of payment requirements in the Code,* once the Australian Building and Construction Commission (ABCC) has confirmed the organisation is covered by the Code, they can help you if you are:
- Unduly pressured, influenced or coerced not to exercise your rights under Security of Payment laws.
- Not being paid money that you’re legally owed in a timely manner where you have:
- Submitted a valid progress payment claim and either not received, or not been paid in accordance with a payment schedule or a notice of dispute
- Not been paid in accordance with an adjudicated decision.
- Not been paid an amount certified by a Principal under a contract
- In a situation where a documented dispute settlement or security of payment laws aren’t complied with.
New reporting requirements
If you’re facing any of the above situations you should report it to the ABCC as soon as possible after the date on which the payment was due.
Report your situation to the ABCC by submitting the Security of Payment Reporting form and emailing it to firstname.lastname@example.org.
A failure to report will be treated in the same way as any other breach of the Code with the ABC Commissioner able to referring any compliance failures to the Minister, recommending sanctions and publication of the name of the person who has failed to comply.
Full details of the new regulation and your responsibilities are available on the ABCC Security of Payment webpage.
*Code for the Tendering and Performance of Building Work 2016 (Code).