Security of Payment Legal Seminar

Over 50 representatives of electrical contracting businesses attended the NECA Security of Payments (SOP) Seminar held on 15 November in Melbourne, convened in response to growing industry concerns regarding the timely payment of progress payments and incidences of breaches of related contractual obligations.  The seminar lead by Stafford Poyser of NECA Legal provided participants with valuable information on the recovery process.

THE SOP Act was enacted in 2002 by the Victorian Government in response to industry calls for a solution to a major problem that plagues the construction industry – getting paid on time.

The SOP Act ensures that any person who carries out construction work (or supply related goods and services) under a contract is entitled to receive and recover progress payments in relation to these works and can access a regulatory process in pursuit of a favourable result. 

And NECA is ready to assist contractors in this regard.

Should you require assistance, please do not hesitate to contact us on 1300 NECA IR or visit our website for further information and contract templates and other materials that may assist you in day-to-day business.