Wed 11 Jan 2017

Security of Payment video and Small Business Victoria Workshop:

The VBA has produced a video entitled “Getting Paid in the Building and Construction Industry” which is now available on the VBA website.

The video has been developed to educate the building and construction industry about the Security of Payment Act, which provides a quick and low-cost mechanism for resolving payment disputes for construction work.

The SOP video was shown recently at a workshop titled “Getting Paid in the Building and Construction Industry”. The tailored 2-hour workshop was developed as a joint initiative of VBA and Small Business Victoria to help small to medium business owners understand the SOP Act, improve payment collection and implement improvements to their business systems and financial records to better support payment claims.

Small Business Victoria will be running further Security of Payment workshops in 2017. Please check the Small Business Victoria Website for future events.

The VBA has also published two SOP sample forms to assist claimants and respondents to prepare payment claims and payment schedules. The Payment Claim – Sample Form (for claimants) and Payment Schedule – Sample Form (for respondents) are available on the VBA website. Additional sample forms will be published later this year to assist claimants and respondents.

For more information and resources on the Security of Payment Act, please visit the VBA website.