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Security of Payment: Your Biggest Power Tool

Fionna Reid   9 October, 2017

Security of Payment legislation was designed to give subcontractors and trade contractors (‘subcontractors’) the power to enforce non-payment quickly and to deal with disputes quickly out of court.  The reasoning behind the legislation is that subcontractors basically funded the construction process, usually paying for the materials and labour for the work well before the subcontractors themselves were paid.  As a result, the payers (builders and owners) higher up the contractual chain used the subcontractors as interest free finance.