Security Of Payments Act v Court Proceedings
If you have carried out building & construction work, and or supplied related goods and services in New South Wales you have two main options to recover the money you are owed.
You can sue your debtor in the traditional fashion by filing a Statement of Claim in court of competent jurisdiction – however be warned that this can turn out to be a very expensive and drawn out process and you may become liable for very significant costs of your debtors legal representation if you are not successful.
Or you can run a claim under the Security Of Payments Act NSW which will be fast, inexpensive and most likely successful. Security Of Payments Act NSW legislation was created to ensure continuity of payment to contractors who would otherwise be starved of cash and may not even be able to continue in business.
There may be other options if you contract has certain provisions that prescribe dispute resolution mechanisms such as mediation and arbitration.
