How do You Get Your Builder to Agree to Transparent and Secure Payments Conditions Hopefully, most of you have heard of IPEX by now (for…
The (Multi) Million Dollar Question
Category: Article
Builders Are Negotiating Up To 2.5%* Of Contract Value Upfront On New Projects – Here’s How
The recent wave of high-profile builder insolvencies is further proof that the construction industry’s commercial builder payment model is broken. Unfortunately, it’s also made many…
Only The Builder Knows Their True Financial Position; Why Should Developers & Lenders Be Forced To Guess?
There’s no doubt that current market conditions have placed significant financial stress on builders; the Australian Constructors Association is reporting that building firms are entering…
Government Project Trust Account Legislation: Are They a Shield for Subbies and Developers?
Several Governments have decided to step in with specific legislation related to trust accounts intended to protect subcontractor payments. The QLD, NSW & WA Governments have all introduced rules governing how builders are to manage progress payments and/or retention money held against subcontractors. We’ve looked at the various legislations introduced to date, both in principle & in practice, so we thought we’d provide an assessment of each from intent to adoption & outcomes. We also provide some insight into our ongoing interactions with the various industry bodies that have introduced these policies/processes as well as those set to influence future frameworks.
QBCC Payment Rules Under Fire: Are Subcontractor Payments and Developer Funds Truly Protected?
When a builder submits a progress claim, they are not only asking to be reimbursed for costs incurred by their business, but also on behalf…
There is a way to fix the ‘broken’ builder payment model & secure developer funds in the process, but one group won’t be happy…
The recent wave of high-profile builder insolvencies is further proof of what many have been saying for some time: the construction industry’s commercial payment model…
Is your Builder asking for more money to finish your project?
Whether the result of material/labour costs rising significantly on a fixed price contract or deliberate underquoting to win a tender, many Builders are now finding…
Are you happy to rely on a ‘stat dec’? or do you want to be sure Sub-Contractors are getting paid?
We’re all familiar with the process; given that Developers have practically zero visibility or control over how project funds are distributed once released to their…
You Can’t Insure Against Builder Insolvency, but there is Another Way to Protect Your Project
You can insure yourself against many risks when it comes to property development, but builder insolvency is not one of them. Nevertheless, smart developers are…