Code covered entities must:
- comply with SOP laws
- report payment disputes or delays – subcontractors can report too
- make payments in a timely manner
- resolve disputes reasonably
- document and follow a dispute settlement process
- not coerce or pressure subcontractors to exercise or not exercise SOP rights
- comply with adjudication.
The ABCC may be able to seek rectification in relation to code covered entities.
Security of payment refers to a building contractor’s right to receive payments that are due as outlined in their contract. Code covered entities must:
- comply with the security of payment legislation in the state or territory where the work is being done
- report payment disputes or delays – subcontractors can report too
- make payments in a timely manner
- resolve disputes reasonably
- document and follow a disputes settlement process
- not coerce or pressure subcontractors regarding exercising or not exercising SOP rights
- comply with adjudication.
The ABCC may be able to seek rectification in relation to code covered entities.