The provisions are intended to better protect retention money owed to contractors and subcontractors in the event of a business failure.
The Regulatory Systems (Commercial Matters) Amendment Act also comes into force today. It clarifies the amendments made in the Construction Contracts Amendment Act 2015 and introduces an alternative option to holding retention money on trust. The key points being:
● retention money provisions only apply to contracts entered into, or renewed, on or after 31 March 2017.
● employers or head contractors who choose to withhold retention money, have two options:
No regulations in relation to retention money provisions under the Construction Contracts Act 2002 are currently proposed.The retention money provisions will apply regardless of the amount of money involved to ensure payment for small subcontractors is protected.Check our Retention Trust Fund section for more information.
John Green will be presenting at 1.00 pm on 16 November 2016 on construction dispute and conflict resolution at the Auckland Build Expo 2016.
Venue: Auckland Build Expo 2016, ASB Showgrounds, Workshop Area 02.
Date: 16 November 2016 12:00 pm - 1:00 pm
To register visit Auckland Build Expo website.
- Organised by the Arbitrators' and Mediator's Institute of New Zealand
Join John Green, one of New Zealand’s most experienced and respected arbitrators and adjudicators, to get a rare pre-launch insight into the development of Australasia’s most comprehensive suite of rules and protocols that govern the wide range of private dispute resolution services provided by NZDRC, NZIAC, BDT, and the FDR Centre.
John is a professional arbitrator, adjudicator and mediator. He has been appointed in more than 1,160 building, construction and infrastructure disputes over the past 26 years relating to residential, commercial and industrial construction projects, power stations, gas fields, manufacturing and processing plants, stadiums, hotels, land subdivisions, roading, railways, wharves, marinas, drainage, wastewater treatment plants, recycling plants, mining, services, and utilities, involving domestic and internationally based parties, complex technical and legal matters, and sums in dispute exceeding $100M.
Date : Tuesday 8 November
Time : 7:15 - 8:45am
Venue : The Northern Club, 19 Princes Street
Cost: $30 including breakfast
Non-members are welcome so bring a friend or work colleague provided we have their details in advance.
To view this event and register, please visit AMINZ Website.
In September 2009, Fair Go introduced BuildSafe to the NZ public in relation to a residential building dispute in the South Island. To read the transcript of the show, click here or to watch Fair Go, click here...
1st August 2012 - Verbal Quotes
Director of BuildSafe John Green featured on this episode of Fair Go offering advice on 'Verbal Quotes' and variations. Click Here to watch this episode.
Never assume anything! And always record variation requests accurately. As part of the BuildSafe service we provide documents and forms that allow parties to record in writing any variations to an original quoted price so that there are no nasty surprises for either party when the invoice is issued for work already undertaken.
John Green was interviewed on NZI Business with Corin Dann in September. To watch the interview, click here
BuildSafe has featured in the North Shore Times Advertiser and other surburan newspapers.
An article about BuildSafe called Keeping it as safe as houses featured in the Sunday Star Times on 30 August 2008.