Security of Payment Research Report – Our Impact
The ABCC plays a key role in monitoring compliance with security of payment (SoP) obligations under the Code, and educating Code covered entities on SoP requirements.
To ensure the ABCC has met the mark on education and enforcement of SoP responsibilities in the building and construction industry, EY Sweeney was commissioned to conduct an independent review into the ABCC’s SoP activities.
The report, which is available on the ABCC website, found the ABCC’s education activities and materials were having a noticeable, positive impact on stakeholder behaviours – with more head contractors self-reporting SoP matters to the ABCC.
The report identified positive Code covered entity perceptions of the ABCC’s SoP education activities.
The report also identifies trends in the use of ABCC tools and resources, the number of SoP compliance activities undertaken by the ABCC and the length of contractor payment delays.
However, the report could not draw absolute conclusions on some of the key evaluation questions. This was largely because data over a longer period would be required to draw more definitive conclusions on trends.
The ABCC has shared the report with the Security of Payments Working Group and will use the findings of the report to identify areas of improvement.
If you are a subcontractor who is owed money, please submit the reporting form for claimants.
If you owe a subcontractor money and you need to report it, please use the security of payment reporting form to report delayed or disputed payments to the ABCC.
Australian Building and Construction Commission (ABCC)