Instead, the Building and Construction Industry (Security of Payment) Bill 2021 is likely to increase legal uncertainty in the construction sector, spur an increase in contractor claims and add to the administrative burdens associated with major projects.
Why are reforms proposed?
The Western Australian (WA) government plans to introduce new security of payment regime in the wake of the collapse of a local building company whose creditors are owed millions of dollars.
The Building and Construction Industry (Security of Payment) Bill 2021 would replace WAs current Construction Contracts Act 2004 (CCA), and would apply to construction contracts entered into after it is enacted.
It is not the WA governments first attempt at introducing sec…
Read the full article at: https://www.pinsentmasons.com/out-law/analysis/western-australia-security-of-payment-reforms-subcontractor-uncertainty
