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Security of Payment Act | The Art of Serving Notices | Contractors Debt Recovery Security of Payment Act | The Art of Serving Notices | Contractors Debt Recovery

http://www.securityofpayment.com.au/ https://www.contractorsdebtrecovery.com.au/ CAN'T GET PAID FOR YOUR WORK? Want to learn how a Site Diary and other strategies can ger rid of 80% of payment Problems?JOIN MY WEBINAR HERE, AND SORT OUT THOSE BAD PAYERS RIGHT NOW!http://ewebinars.com/10205/ve3a8oxqip...Hi, there. Anthony from Contractors Debt Recovery back again with another instalment. Now what we want to talk about today is serving under the Security of Payment Act that follow up notice that follows a claim. As you would or should know by now when you serve a claim and the respondent does not send you a payment schedule within 10 business days, you have to serve another notice before you can go to adjudication. In New South Wales that's called Section 172 Notice. In Victoria, it's 182 Notice. In Queensland I think it's Section 212 notice and so on around the other states depending on what section of the act is the equivalent. Now one of the biggest mistakes in the whole process is contractors do not send that notice at the appropriate time. They send it early. They send the payment claim, wait 10 business days, no payment schedule comes from the respondent and they send that notice immediately on the 11th business day.And on many occasions that is too early but of course you don't know that until you got to adjudication under Security of Payment. The adjudication looks at all the documents and throws the whole thing up, say the process wasn't followed. I don't have jurisdiction. Now let's just clearly understand when you should or when you can serve these notices. So we've got here month 1, month 2, month 3 and month 4 approximately. Let's say you serve a payment claim. You reference that under your contract is claims is going to be served on the 25th of the month for common list. Let's adopt that. So I'll serve my claim on the 25th and I need a payment schedule within 10 business days from the respondent which will take me to approximately the 8th. Approximately 8th of the following month that gap there being there 10 business days, more or less.Now let's say by the 8th you don't get a payment schedule. Well what the acts around the country say is that a follow-up notice can only be served after the due dates of payment. I abbreviate that to DD4P. It can only be served after the due date of payment not after 10 business days, after the due date of payment. So the big issue for you to consider is under this contract when is payment due. Now many contract says claims in by the 25th, payment 30 days end of month which means that payment at the 25th here will be due at the end of month 2 there. There's a due date for payment.Now if that is the case then you can only serve the notice after the 30th of that month. So let's say this is, let's say March, April, May, June. So you serve your claim on the 25th of March. The due date for payment is the 30th of April. Let say you don't get a payment schedule. You then have to sit on your hands and wait till the due date of payment passes 30th of April. And here then you can serve your notice. And in most jurisdiction you have a window of 20 business days after the due days of payment in which to serve that notice. You can serve it on the first day available or anytime within that 20 business day period. What you must know is your due date of payment.Now in most jurisdictions if there's no agreed of due dates of payments then the due dates of payment is 10 business days after the claim is received which means that the date upon which the payment schedule is due is also the due date of payment. That means in that scenario, sure you can send that notice immediately after the next business day after the due date of payment because the 10 business days in which the schedule is due is also the 10 business days in which payment is due. Now that may apply but often in the contract you'll have 45 days in a month, 30 days after the payment claim is served. So if you served on the 25th your claim and your terms at 30 day then it's due on the 25th of April.So I hope I've made that clear with that scribbly diagram but it's a very very important part of using the Security of Payment Act around Australia. If you got any questions, give us a call on the number at the bottom of the screen or otherwise we will see you next time. Cheers. More

Tags: Concrete, Finance
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Security of Payment Act | Why You Need to Keep it Formal | Contractors Debt Recovery Security of Payment Act | Why You Need to Keep it Formal | Contractors Debt Recovery

http://www.securityofpayment.com.au/ https://www.contractorsdebtrecovery.com.au/ This video is brought to you by Contractors Debt Recovery, and will help you prepare for security of payment claims, adjudications, and milestone payment disputes. Success in Security of Payments matters relies on good evidence and solid preparation. You should try to implement these strategies to give you the best chance of success under the Security of Payment Act, no matter where the work was done:Security of Payment Act NSWSecurity of Payment Act QLDSecurity of Payment Act VICSecurity of Payment Act ACTSecurity of Payment Act SASecurity of Payment Act TasmaniaIf you have any questions or want to know the details to have Contractors Debt Recovery run your matter for you, then go to our website [see the link on this channel] or call 1300 669 075 Australia-wide. We are well versed in the security of payments act and can help with any type of claim.Why You Need to Keep it Formal from Contractors Debt RecoveryHi, there. Anthony from Contractors Debt Recovery back haunting your screen yet again. Today, we're going to talk about keeping it formal. That does not mean wear a bowtie while you do your work. It means keeping the relation between you and your client on a formal basis. What that mean is you're not friends and you're not a good bloke and they're not a good bloke. We're all trying to be good blokes. Forget all that. You are a supplier. You're supplying a service or product for a fixed price and the other party is your client and there needs to be certain formality in that relationship.If you are informal be careful because informality equals less money. Informality equals less money for you. Why is that so? Informality means that your paperwork is not formal or there is no paperwork or it's just yeah, we'll just keep everything on a friendly basis, won't record that. Formality requires you to keep good documentation. Formality requires correct notices. Formality means that you're actually going to be charging for every bit of work you do including additional work. So don't be shy about it. You're not the person's friend. They are your customer.The other problem within formality is you tend to do freebies. Hey mate, can you throw me a few of those. Throw a bit of this, a bit of that. Okay. Because you're trying to be a good bloke. So all of the sudden you're losing money. All of a sudden someone saying do another sale in a less amount of work mate, can you. And you're saying okay. All right. Yeah, you seem like a good bloke. You got to forget all that. No freebies. Formality requires that you record a variation and you seek to have that variation approve rather than just throwing in a bits and pieces here and there just because you're trying to be a good bloke.You need to rethink your relationship and understand that your relationship with your customer is a formal business relationship with a contract that documents or details how that relationship unfolds through the work. Okay. So remember informality equals less money. So keep it formal. Formality means better documentation. Formality means all extra work is charge for and no freebies and no favours. Just have a clean business relationship and that is a formal relationship. All right. Straighten up that bowtie and I'll see you next time. More

Tags: Concrete, Finance
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Security of Payment Act | Get That Contract Back | Contractors Debt Recovery Security of Payment Act | Get That Contract Back | Contractors Debt Recovery

http://www.securityofpayment.com.au/ https://www.contractorsdebtrecovery.com.au/ CAN'T GET PAID FOR YOUR WORK? Want to learn how a Site Diary and other strategies can get rid of 80% of payment Problems?JOIN MY WEBINAR HERE, AND SORT OUT THOSE BAD PAYERS RIGHT NOW!http://ewebinars.com/10205/ve3a8oxqip...Hi, Anthony from Contractors Debt Recovery back with this final episode in this second series of videos. So we've kept the best to last. I don't know what award this one is going to win but we're very hopeful it will win an award that hasn't even been invented yet. I'll be in a category of my own. Nevertheless, okay so what we're going to talk about today is this phenomenon where you're doing all this work and you haven't got a contract. Now let's walk through this. This line is the separator. So let's look at the letter of intent. So sometimes on bigger jobs your client will say here's a letter of intent, you start working but subject to a contract. You then start work on your letter of intent, you never get a contract. But the letter of intent says everything is subject to a contract. There's a payment dispute and then your client says by the way here's the contract.Everyone here's the contract and here are all the clauses you're in breach of and that's why I'm not paying you. You've never received the contract. You've seen it. But it hasn't been sent to you. And now there's an argument is the agreement the letter of intent or is the agreement the contract. Now that's your fault because you didn't insist on getting the contract there. Getting the contract, executing a contract, signing it. Alternately, you'll provide a quote to your client and they'll say great, start work subject to a contract. Same problem. Or, there's no contract in which case contract is your quote but I'm talking about scenarios here where there is meant to be a signed contract. You're putting in a tender response. Fantastic, start work or fantastic here's a letter of intent, start work. Same problem. Maybe you go a step further. Maybe you're working now for two weeks and finally two weeks or three months if you're really silly, finally you have a contract and they say sign here. Come in and sign it.You haven't reviewed it which is a whole other talk but let's say you've reviewed it. You sign the contract and you send it to them. Under the pretence that they will co-sign and they send it back to you. But they never do. So now you've signed a contract that you don't even have. Now there's a payment dispute. If you come to someone like me. I'm going straight to with the contract. Let's understand the terms here. Haven't got it. Don't have it. You're going in blind into the Security of Payment dispute because you just kept working. Now that is your fault. That's very silly and you must insist on it. And in fact in my book, I don't care what the industry norms are. I just don't start. The contract is what binds you to your customer. If there's no contract, there's no reason for you to be there. I have an earth moving contractor. Ring me up and go, "Man I'm been on site for three days. I've done $20,000 worth of work."And I went through the discussion and I said did you quote. No. Just agreed, ballpark, oral. There was no tender response, no letter of intent. Have they issued you anything in writing? No. Have you agreed to anything in writing? No. Do you have a contract? They said there is one but they haven't got it to me yet. So then I waited and then I asked this question. I said, "Michael, what is there in an instance in this universe that requires to be on that site right now doing work?" Absolutely nothing. Nothing. There was no agreement. There's nothing. There's absolutely no reason for him to be there doing any work. He said there's nothing. So I said, "Well pick up your stuff and get out." Which is what he did. And you wouldn't believe it. What a surprise a contract turned up four hours later. Would you believe it. I can't believe it. Of course, I can believe it. All right that's what you've got to be doing. Get the contract back.I would even avoid the whole thing and say I'm not starting work until I have a signed contract. We're coming into your office, you're coming to mine. We're signing this off. We signed off two copies. You keep one copy, I keep another. That's it and I insist on that. And if you insist on it too you'll get it. But be under no illusion that this is a deliberate strategy from clients. They quite deliberately keep the contract from you. More

Tags: Concrete, Finance
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Security of Payment Act | Part Payment Problems | Contractors Debt Recovery Security of Payment Act | Part Payment Problems | Contractors Debt Recovery

http://www.securityofpayment.com.au/https://www.contractorsdebtrecovery.com.au/ This video is brought to you by Contractors Debt Recovery, and will help you prepare for security of payment claims, adjudications, and milestone payment disputes. Success in Security of Payments matters relies on good evidence and solid preparation. You should try to implement these strategies to give you the best chance of success under the Security of Payment Act, no matter where the work was done:Security of Payment Act NSWSecurity of Payment Act QLDSecurity of Payment Act VICSecurity of Payment Act ACTSecurity of Payment Act SASecurity of Payment Act TasmaniaIf you have any questions or want to know the details to have Contractors Debt Recovery run your matter for you, then go to our website [see the link on this channel] or call 1300 669 075 Australia-wide. We are well versed in the security of payments act and can help with any type of claim.Part Payment Problems from Contractors Debt RecoveryHi, there. Anthony from Contractors Debt Recovery with yet another instalment of amazing information. I hope you think. I think so anyway but I'm bias. Let's talk today about part payments. Now this arises when you're doing multiple jobs and you're invoicing against each of those multiple jobs to the same customer. So job 1, job 2, job 3 and 4. Now you're invoicing, you're generating a separate invoice to your customer for each job you're doing. Each job has reconciliation. Each job will have a credit. Each job has its own nuances. So it's as you know a hell of a job keeping on top of accounting for each of these jobs. Now what makes things worst is what you let your customers do.So let's assume so far what you're owed for each job is let's say $12,000 there, $27,000 there, $16,000, $11,000 for argument sake. It can be anything. Well now you're generating invoices here and your customer who treats you as a single account, incorrectly as a single account doesn't care what job, this job, that job and they go, "Oh what the hell, here's $50,000." Let's call it $20,000. It makes it easier. So now you got a payment for $20,000. Just turns out in your account. Which job is that for? No idea. Which invoice is that payment for? No idea. How who you book it against your job? No idea. And this is a big problem. I don't know. It's great to get $20,000. I'm not arguing with you with that but you need to account for it.So you either need to insist that your customer, just right over the top, stick to invoice amount. If they make a payment, pay the invoice amount. Get them on the horn. Invoice amount only. I'll take the $20,000 but we need to be, which invoice does it goes to. Now if they say I don't care or you can't have that conversation. You allot it and allot it to the oldest invoice first across any of those jobs. If this job is six months old all this invoice is six months and the others are three months or two months old, clear that off that deck first. Then send your customer a written report going of your $20,000 I received today that amount was applied to these invoices. That invoice for this job. That invoice for this job. So this is now what's left owing.So that there is a paper record of where that $20,000 went. Because if you have a payment dispute over job 2 your client will say, "Hang on. I paid you $20,000 for job 2. You're only owed $7,000 there." Then you'll have a dispute over job 3 to which your client will say, "Hang on. I'm owed $16,000. I'd paid you $20,000. I overpaid you by four. Give me four back." So they're running the same amount against each job as you have a dispute. So what you need to do is anchor where that $20,000 leads. This is where we put the $20,000 so that your client can't be quadruple dipping. If you know what I mean. So on the website there's an article called the trouble with part payments and this is what I'm talking about. So keep on top of it. Either keep your client paying only invoice account and reconciling against invoices.If you just get this odd number turning up, you're allowed to invoice this and you send a written report to your client going thanks for the payment of $20,000. This is how I've applied it to the amounts you currently owed me and here are the invoice numbers and this is what left owing. And that will give you far more control over this kind of shenanigans that clients tend to impose against contractors. If you got any issues, any questions give us a call. Our number should be on your screen. Other than that, I'll see you next time. More

Tags: Concrete, Finance
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Security of Payment Act | The Value of Expert Reports | Contractors Debt Recovery Security of Payment Act | The Value of Expert Reports | Contractors Debt Recovery

http://www.securityofpayment.com.au/https://www.contractorsdebtrecovery.com.auThis video is brought to you by Contractors Debt Recovery, and will help you prepare for security of payment claims, adjudications, and milestone payment disputes. Success in Security of Payments matters relies on good evidence and solid preparation. You should try to implement these strategies to give you the best chance of success under the Security of Payment Act, no matter where the work was done:Security of Payment Act nswSecurity of Payment Act qldSecurity of Payment Act vicSecurity of Payment Act actSecurity of Payment Act saSecurity of Payment Act TasmaniaIf you have any questions or want to know the details to have Contractors Debt Recovery run your matter for you, then go to our website [see the link on this channel] or call 1300 669 075 Australia-wide. We are well versed in the security of payments act and can help with any type of claim.The Value of Expert Reports from Contractors Debt RecoveryHi, there. Anthony from Contractors Debt Recovery haunting your screens yet again. Let's talk today about expert reports. Now people will not pay you because they say this is defective or you might agree something is defective but you're arguing over what the defect is worth. You are saying that this defect is worth $15,000. Your client of course is saying it's worth $2.5 million and you owe him $1.8 million or something like that. We've all seen that.So we need to establish whether there actually is a defect or defective work. If there is, what is the value of that defect? So these are the two things that need to be settled. Now instead of arguing he said, she said for nine months arguing over what it is, it's open to you to simply get the work inspected by a court accredited expert, an expert witness, an expert in that field. I wouldn't announce it. I would get someone in there.If you're arguing over tiles get an expert on tiles, get an expert on cement or concrete work or whatever it is. And I would suggest to you between $1,000 and $2,000 they could do a report on the work as to whether it's defective or not in regards to what the requirements are under the contract and what if there is defect to be rectified. What is rectification cost?Now if you have that document in your arsenal of weaponry then if there is a payment dispute or a Security of Payment adjudication or some kind of legal procedure or court procedure whatever it is, you are armed with some fantastic almost irrefutable evidence. You have not just any expert report by any engineer you come across but some of them are court accredited expert witnesses. Their testimony is evidence in court.So you want to be finding them. They are listed. You can certainly go to professional association and say do you have any expert witness in this field and you'd get some names. And get that person to inspect your work. I wouldn't announce it. Just bring them onsite and get them to do the report and call the quality assurance for your own work. If you can do that then you will have some excellent documentation up your sleeve to reject allegations of defective work and to deal with it or to at least deal with it within a reasonable value.So just to summarize expert report help you settle defect dispute, evaluation of defect dispute. You only really want those expert witnesses that are court accredited that could appear in court as an expert witness. There is a different rather than just your mate who happens to be in the same trade. So you want court accredited witnesses.And I wouldn't announce it. I would just bring them into site while you got access to site and have them inspect the work and do their report. If anything that will facilitate a resolution of the dispute. All right. It's open to you to do it, not enough contractors do it. So start doing it and you'll find yourself in a far better position regarding defects. I'll see next time. More

Tags: Concrete, Finance
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