Building Industry Fairness (Security of Payment) Act 2017 (BIFA) replaces the Building and Construction Industry Payments Act 2004 (“BCIPA”).
BIFA will apply to payment claims served on or after 17 December 2018 (it does not matter when the contract was entered into). A payment claim served before 17 December 2018 will still be governed by BCIPA.
The Major Differences Between the BIFA Regime and the BCIPA Regime
Under the new regime, there may be a significant risk of missing the need for a respondent to deliver a payment schedule. The payment claim will not make it obvious that it is a payment claim and there is no longer a second chance to deliver a payment schedule.
Click here for further details of and differences between the regimes.
Please contact partner, Scott Eustace for further details on eustaces@hickeylawyers.com.au.