Overview
The Security of Payment Act facilitates payments for construction work done or for related goods/services supplied in the building and construction industry. It aims to improve cash flow in the construction industry by giving parties the right to seek progress payments for work done, and to provide quick and low-cost resolution of payment disputes through adjudication.
Objectives
The course provides an overview of the key essentials in the Security of Payment legislation. It aims to enhance participants’ understanding on the mechanism, requirements and considerations of the Security of Payment Act and discusses payment issues typically encountered in building and construction projects.
