If contractors undertake construction work and/or supply related goods or services as defined under the SOPA, they are entitled to progress payments on and from each reference date under a construction contract.

The Building and Construction Industry Security of Payment Act 2002 (Vic) (SOPA) helps to ensure that parties providing construction contracts and related services are given the ability to get paid and claim ‘progress payments’ quickly.

There is little doubt that building your own home is an exciting prospect for any property owner. To be an owner-builder, you must firstly own or co-own the land you intend to build on.

Whether you’re building or renovating a home, knowing how Domestic Building Insurance operates in Victoria is an extremely powerful asset and one that is commonly misunderstood by homeowners.

The Building and Construction Industry Security of Payment Act is a powerful legislative regime designed to ensure cash flow within the industry.