Australia’s Last Best Hope for National Security of Payment Legislation?

    View Authors May 2018

    The long-awaited federal review of security of payment by John Murray AM has been released, and recommends harmonised security payment laws that, while generally along the lines of the East Coast Model, adopt features from various states’ (and Singapore’s) legislation.

    Construction contractors desiring nationally uniform security of payment legislation should embrace Mr. Murray’s recommendations as providing a blueprint for it. It looks to the best opportunity for harmonisation in the foreseeable future. There are, however, significant recommendations, including statutory trusts for subcontractor payments, that challenge orthodox contractor thinking and which will undoubtedly cause significant debate in the construction industry and between governments.