Do you want a simple, clear explanation of how the Security of Payments Act works and how it can work for you, without having to learn by 'being burnt'?

Most of us in the construction industry know about the Security of Payments Act. We know that it protects people's cash flow by increasing the frequency and reliability of progress payments. 

What is scary is the number of people who do not use the Act correctly.

Why is this scary? Imagine that you are entitled to a progress payment on a large apartment block for design services. You have staff's wages and bills to pay, but the client refuses payment that is rightfully yours. This means, you are out of pocket for wages and working capital, which could be worth $1000's. We all know of someone who has either been in this situation or been in severe danger of being in this situation.

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To avoid this happening to you, your logical next step would be to use the Act to claim the payments that are rightfully yours. 

This is where is gets truly dangerous. You could be one of the many sub-contractors and consultants who use the Act. You use the Act regularly, under the impression that, when you need to, it'll protect you and you will get your money back. 

This is where you need to be aware. 

To receive the true protection under the Act, you need to make sure you are not using the Act incorrectly. Otherwise, this jeopardises the payment rightfully owing to you and jeopardise your business. 

If you are working in different states and territories in Australia, you need to be aware of what's happening in each jurisdiction.

Well-known and respected adjudicator, Scott Pettersson, is releasing a comparison paper, exclusively to Kite Conferences, our course participants and subscribers. The paper will explain how the Act works, the pitfalls and upsides, in each state and territory in Australia.

This is a resource you can refer to no matter where in Australia you do business.

You can sign-up to receive this free complimentary comparison paper here.  

Scott Pettersson will be running the 'Protect Your Payments' workshop in July 2010 in Brisbane and Sydney. For more information, click here.

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Shuba Paheerathan