Update - Security of Payment reform

The State Government recently announced that from 1 July 2019, the use of Project Bank Accounts will be expanded to any government project with a total value of more than $1.5 million. Click here to view the announcement.

Whilst ECA WA welcomes this announcement, we urge the government to quickly release it's response to the report delivered by the Security of Payment Reform Advisory Group.

We expect the government to act on the findings of this report, and:

  • Provide a number of additional means to protect subcontractor payments including the quarantining of retention monies
  • Develop a procedure to ensure that subcontractor payments are received in a timely and consistent manner.