Common use of SECURITY OF PAYMENT Clause in Contracts

SECURITY OF PAYMENT. If the Building and Construction Industry Security of Payment Xxx 0000 (Vic) or similar legislation in another jurisdiction (Act) applies: (a) the Buyer and Seller must ensure that within 24 hours a copy of any notice given or received under the Act is provided to the other; and (b) any authorised nominating authority or the like under the Act shall be a person authorised by the relevant authority under the Act to nominate adjudicators.

Appears in 4 contracts

Samples: Supply Agreement, Supply Agreement, Goods and Services Agreement

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