Building and Construction Industry (Security of Payment) Act 2021
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Building and Construction Industry (Security of Payment) Act 2021
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Turn the raw legal text into a practical explanation grounded in Building and Construction Industry (Security of Payment) Act 2021.
Part 2 — Construction contracts and right to progress payments
Division 1 — Form and content of construction contracts
Model forms of construction contracts 16
Construction contracts that are to be in writing and contain mandatory information 16
Prohibited terms: pay when paid provisions 18
Other prohibited terms prescribed by regulations 19
Notice‑based time bar has no effect if declared unfair in particular case 19
Division 2 — Right to progress payments
Right to progress payments 21
Amount of progress payment 23
Valuation of construction work and related goods and services 23
Due date for payment 24
Interest on payment after due date 25