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Construction insolvency: examining the "supporting statement" requirement in New South Wales

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journal contribution
posted on 12.09.2014 by Jeremy Coggins, Wayne Lord
Introduced as a measure to improve security of payment, the requirement that a head contractor provide proof that it has paid its subcontractors as a condition precedent to its own entitlement to be paid by the principal has for some time been a common provision in Australian standard form construction contracts. Recognising that allegations of some head contractors swearing false statutory declarations in relation to their contractual proof of payment obligations have been longstanding, the New South Wales Parliament has recently enacted a statutory requirement for head contractors to provide proof of payment in the building and construction industry. By examining the statutory provisions, and analysing their likely implications, this article investigates whether the proof of payment requirements are likely to have more “bite” than their contractual cousins and therefore be more effective at improving security of payment and reducing insolvencies in the building and construction industry.

History

School

  • Architecture, Building and Civil Engineering

Published in

Building and Construction Law Journal

Volume

30

Issue

4

Pages

224 - 237 (14)

Citation

COGGINS, J. and LORD, W.E., 2014. Construction insolvency: examining the "supporting statement" requirement in New South Wales. Building and Construction Law Journal, 30 (4), pp. 224 - 237.

Publisher

Lawbook Co. / © Thomson Reuters.

Version

AM (Accepted Manuscript)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/

Publication date

2014

Notes

This article was published in the Building and Construction Law Journal [© Thomson Reuters on behalf of Lawbook Co.].

ISSN

0815-6050

Language

en

Location

Australia

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