Are you a Subcontractor not getting paid?
If you are a subcontractor to a head contractor or builder, and you are not getting paid on a project in Queensland or are concerned that they are in financial difficulties and may become insolvent, you should seriously consider seeing a solicitor who is familiar with the Subcontractor’s Charges Act 1974. This legislation is specifically designed to help in this situation and our firm has helped a number of clients recover money recently.
Although it is a small piece of legislation, it can pack a powerful punch! You may not get all that you are owed, but it can put you in a strong position to negotiate in the month after you have served your subcon tractors’ charge (known in the industry as a “e;subbies charge”e;). It is important to note however, that the Act is quite complex and we strongly recommend talking to a solicitor before using it.
In the last few months we have helped two clients get all or over half of what they were owed. One client was owed just under $300,000 and the other under $200,000 which are substantial sums to anyone in the construction industry, where cash is king!
If you cannot satisfactorily negotiate to get your money within a month, you must commence legal proceedings to protect the subbies charge, other wise the charge disappears. That is why advice from a solicitor who understands the Act is very important.
Please call us if you need to discuss your cashflow problem.
This newsletter is provided as information only and should not be relied on as legal advice applicable to your particular situation.