Laura and Kate discuss Stage 1 of the new Building and Construction Industry (Security of Payment) Act 2021 (SOPA) (WA), as well as providing some practical tips on ensuring your contracts are SOPA ready, and the importance of responding to payment claims on time.
The first stage of SOPA brings in shorter payment timeframes, as well as bringing in measures to improve fairness in contracting and a new rapid adjudication system. They explain the gradual implementation of SOPA, and why mining and energy companies who may have been excluded from the Construction Contracts Act 2004 (WA) should consider whether new works will be captured by SOPA.
Click here to listen the podcast.
For further information, please contact:
Ante Golem, Partner, Herbert Smith Freehills
ante.golem@hsf.com
