Common use of SECURITY OF PAYMENT Clause in Contracts

SECURITY OF PAYMENT. 26.1 If the Building and Construction Industry Security of Payment Act 2009 (SA) (SP Act) applies to this agreement: 26.1.1 the SP Act prevails to the extent of any inconsistency; and 26.1.2 the parties agree to comply with the SP Act. 26.2 The Contractor must immediately give the Council, by handing to the Council’s Representative, a copy of any notice or any written communication of any nature the Contractor receives or issues pursuant to the SP Act. This includes a copy of any notice(s) or written communication(s) of any nature that the Contractor receives from any other party in relation to the Contract Works, including from any subcontractor or subconsultant of the Contractor. 26.3 If the Council receives a copy of a notice or other written communication from a subcontractor or subconsultant of the Contractor indicating an intention to suspend or actually suspending any aspect of the Contract Works, the Council may, in its absolute discretion, pay the subcontractor or subconsultant the whole or part of the money the subcontractor or subconsultant states that it is owed by the Contractor and the amount of the payment made by the Council will be a debt due from the Contractor to the Council. 26.4 The Contractor indemnifies the Council against all liabilities, damages, losses, costs and expenses (including legal costs on a full indemnity basis) incurred by the Council arising from a suspension of the Contract Works pursuant to the SP Act. 26.5 If the Contractor suspends the whole or any part of the Contract Works pursuant to the SP Act, then to the extent permitted by law, the Contractor shall not be entitled to any extension of time for Completion of the Contract Works or any adjustment of the Contract Sum.

SECURITY OF PAYMENT. ‌ 26.1 If the Building and Construction Industry Security of Payment Act 2009 (SA) (SP Act) applies to this agreement: 26.1.1 the SP Act prevails to the extent of any inconsistency; and 26.1.2 the parties agree to comply with the SP Act. 26.2 The Contractor must immediately give the Council, by handing to the Council’s Representative, a copy of any notice or any written communication of any nature the Contractor receives or issues pursuant to the SP Act. This includes a copy of any notice(s) or written communication(s) of any nature that the Contractor receives from any other party in relation to the Contract Works, including from any subcontractor or subconsultant of the Contractor. 26.3 If the Council receives a copy of a notice or other written communication from a subcontractor or subconsultant of the Contractor indicating an intention to suspend or actually suspending any aspect of the Contract Works, the Council may, in its absolute discretion, pay the subcontractor or subconsultant the whole or part of the money the subcontractor or subconsultant states that it is owed by the Contractor and the amount of the payment made by the Council will be a debt due from the Contractor to the Council. 26.4 The Contractor indemnifies the Council against all liabilities, damages, losses, costs and expenses (including legal costs on a full indemnity basis) incurred by the Council arising from a suspension of the Contract Works pursuant to the SP Act. 26.5 If the Contractor suspends the whole or any part of the Contract Works pursuant to the SP Act, then to the extent permitted by law, the Contractor shall not be entitled to any extension of time for Completion of the Contract Works or any adjustment of the Contract Sum.

SECURITY OF PAYMENT. 26.1 30.1 If the Building and Construction Industry Security of Payment Act 2009 (SA) (SP Act) applies to this agreementAgreement: 26.1.1 30.1.1 the SP Act prevails to the extent of any inconsistency; and 26.1.2 30.1.2 the parties agree to comply with the SP Act. 26.2 30.2 The Contractor must immediately give the Council, by handing to the Council’s Representative, a copy of any notice or any written communication of any nature the Contractor receives or issues pursuant to the SP Act. This includes a copy of any notice(s) or written communication(s) of any nature that the Contractor receives from any other party in relation to the Contract Works, including from any subcontractor or subconsultant of the Contractor. 26.3 30.3 If the Council receives a copy of a notice or other written communication from a subcontractor or subconsultant of the Contractor indicating an intention to suspend or actually suspending any aspect of the Contract Works, the Council may, in its absolute discretion, pay the subcontractor or subconsultant the whole or part of the money the subcontractor or subconsultant states that it is owed by the Contractor and the amount of the payment made by the Council will be a debt due from the Contractor to the Council. 26.4 30.4 The Contractor indemnifies the Council against all liabilities, damages, losses, costs and expenses (including legal costs on a full indemnity basis) incurred by the Council arising from a suspension of the Contract Works pursuant to the SP Act. 26.5 30.5 If the Contractor suspends the whole or any part of the Contract Works pursuant to the SP Act, then to the extent permitted by law, the Contractor shall not be entitled to any extension of time for Practical Completion of the Contract Works or any adjustment of the Contract Agreed Sum.