SECURITY OF PAYMENTS Clause Examples
The Security of Payments clause establishes mechanisms to ensure that parties, typically contractors or suppliers, receive timely and guaranteed payments for work performed or goods provided under a contract. It often sets out specific procedures for submitting payment claims, timelines for payment responses, and may include provisions for interest on late payments or dispute resolution processes. By clearly defining payment rights and obligations, this clause helps prevent cash flow issues and reduces the risk of payment disputes, thereby promoting financial stability and trust between contracting parties.
SECURITY OF PAYMENTS. 50.1 The Employer recognises that the under, non or late payment of building industry participants for services rendered can affect the entitlements of workers and the security of their employment.
50.2 The Employer acknowledges its obligations under the Building and Construction Industry Payments Act 2004 (as amended) and the Subcontractors Charges Act 1974.
50.3 The Employer will not engage in illegal or fraudulent phoenix activities for the purpose of avoiding any payment due to another building contractor or building industry participant or other creditor.
50.4 The Employer will:
(a) comply with all applicable laws and other requirements relating to the security of payments that are due to subcontractors; and
(b) ensure that payments which are due and payable are made in accordance with applicable legislative requirements; and
(c) have a documented dispute settlement process in accordance with all applicable legislative requirements that details how disputes about payments will be resolved, includes a referral process to an independent adjudicator for determination if the dispute cannot be resolved between the parties and must comply with that process; and
(d) as far as practicable, ensure that disputes about payments are resolved in a reasonable, timely and cooperative way.
(e) Principal contractors and contractors will ensure reasonable allowance is included in contracts taking into account historic weather conditions and forecast rainfall.
(f) The Employer will keep records demonstrating its compliance with clause 50.4 above. The Employer will, within 7 days of receiving a written request from the Union who has a reasonable belief of a non-compliance with clause 50.4 above, provide evidence demonstrating its compliance. Nothing in this clause requires the Employer to provide information in a manner that is inconsistent with the Privacy Act 1988 (Cth).
SECURITY OF PAYMENTS. 40.1 The Employer recognises that the under, non or late payment of building industry participants for services rendered can affect the entitlements of workers and the security of their employment.
40.2 The Employer acknowledges its obligations under the Building and Construction Industry Payments Act 2004 (as amended) and the Subcontractors Charges Act 1974.
40.3 The Employer will not engage in illegal or fraudulent phoenix activities for the purpose of avoiding any payment due to another building contractor or building industry participant or other creditor.
40.4 The Employer will:
SECURITY OF PAYMENTS. The Employer recognises that the under, non or late payment of building industry participants for services rendered can affect the entitlements of workers and the security of their employment. The Employer acknowledges its obligations under the Building and Construction Industry Payments Act 2004 (as amended) and the Subcontractors Charges Act 1974. The Employer will not engage in illegal or fraudulent phoenix activities for the purpose of avoiding any payment due to another building contractor or building industry participant or other creditor. The Employer will:
(a) comply with all applicable laws and other requirements relating to the security of payments that are due to subcontractors; and
(b) ensure that payments which are due and payable are made in accordance with applicable legislative requirements; and
(c) have a documented dispute settlement process in accordance with all applicable legislative requirements that details how disputes about payments will be resolved, includes a referral process to an independent adjudicator for determination if the dispute cannot be resolved between the parties and must comply with that process; and
(d) as far as practicable, ensure that disputes about payments are resolved in a reasonable, timely and cooperative way.
(e) Principal contractors and contractors will ensure reasonable allowance is included in contracts taking into account historic weather conditions and forecast rainfall.
(f) The Employer will keep records demonstrating its compliance with clause 37.4 above. The Employer will, within 7 days of receiving a written request from the Union who has a reasonable belief of a non-compliance with clause 37.4 above, provide evidence demonstrating its compliance. Nothing in this clause requires the Employer to provide information in a manner that is inconsistent with the Privacy Act 1988 (Cth).
SECURITY OF PAYMENTS. 40.1 The Employer recognises that the under, non or late payment of building industry participants for services rendered can affect the entitlements of workers and the security of their employment.
40.2 The Employer acknowledges its obligations under the Building and Construction Industry Payments Act 2004 (as amended) and the Subcontractors Charges Act 1974.
40.3 The Employer will not engage in illegal or fraudulent phoenix activities for the purpose of avoiding any payment due to another building contractor or building industry participant or other creditor.
40.4 The Employer will:
40.5 The Employer will keep records demonstrating its compliance with clause 40.4. The Employer will, within 7 days of receiving a written request from an Employee who has a reasonable belief of a non- compliance with clause 40.4, provide evidence demonstrating its compliance. Nothing in this clause requires the Employer to provide information in a manner that is inconsistent with the Privacy Act 1988 (Cth) or the FW Act.
SECURITY OF PAYMENTS. The Employer recognises that the under, non or late payment of building industry participants for services rendered can affect the entitlements of workers and the security of their employment. The Employer acknowledges its obligations under the Building and Construction Industry Payments Act 2004 (as amended) and the Subcontractors Charges Act 1974. The Employer will not engage in illegal or fraudulent phoenix activities for the purpose of avoiding any payment due to another building contractor or building industry participant or other creditor. The Employer will:
(a) comply with all applicable laws and other requirements relating to the security of payments that are due to subcontractors; and
(b) ensure that payments which are due and payable are made in accordance with applicable legislative requirements including the Code and are not unreasonably withheld; and
(c) have a documented dispute settlement process in accordance with all applicable legislative requirements including the Code that details how disputes about payments will be resolved, includes a referral process to an independent adjudicator for determination if the dispute cannot be resolved between the parties and must comply with that process; and
(d) as far as practicable, ensure that disputes about payments are resolved in a reasonable, timely and cooperative way. The Employer will keep records demonstrating its compliance with clause 40.4 above. The Employer will, within 7 days of receiving a written request from an Employee who has a reasonable belief of a non-compliance with clause 40.4 above, provide evidence demonstrating its compliance. Nothing in this clause requires the Employer to provide information in a manner that is inconsistent with the Privacy Act 1988 (Cth).
SECURITY OF PAYMENTS. 8.1. When replenishing the Balance with a bank card, the payment processing (including entering the card number) takes place on a secure page of the processing system, which has passed international certification. Payment security is guaranteed by the processing center. This means that the User's confidential data (card details, registration data, etc.) are not received by the Company, their processing is fully protected and no one, including the Company, can receive the User’s bank card details or other payment data.
8.2. All operations with card dadetails are performed according to the information security standard developed by the international payment systems Visa and MasterCard (“Payment Card Industry Data Security Standard” or “PCI DSS”). It ensures the safe processing of the bank card details. The applied data transfer technology guarantees the security of transactions with bank cards through the use of TLS (Transport Layer Security), Verified by Visa, Secure Code, MIR Accept protocols and closed banking networks according to the highest protection standards.
SECURITY OF PAYMENTS. In accordance with our commitment to secure payment, all online payments by credit or debit card are made via our bank's security system, or any other security system we may choose, which enables the encryption of your bank details during transmission. We also inform you that Actiyon can verify the reliability of the information you provide when placing a payment order.
SECURITY OF PAYMENTS. 50.1 The Employer recognises that the under, non or late payment of building industry participants for services rendered can affect the entitlements of workers and the security of their employment.
50.2 The Employer acknowledges its obligations under the Building and Construction Industry Payments Act 2004 (Qld) (as amended) and the Subcontractors Charges Act 1974 (Qld).
50.3 The Employer will not engage in illegal or fraudulent phoenix activities for the purpose of avoiding any payment due to another building contractor or building industry participant or other creditor.
50.4 The Employer will:
(a) comply with all applicable laws and other requirements relating to the security of payments that are due to subcontractors;
(b) ensure that payments which are due and payable are made in accordance with applicable legislative requirements;
(c) have a documented dispute settlement process in accordance with all applicable legislative requirements that details how disputes about payments will be resolved, includes a referral process to an independent adjudicator for determination if the dispute cannot be resolved between the parties and must comply with that process; and
(d) as far as practicable, ensure that disputes about payments are resolved in a reasonable, timely and cooperative way.
SECURITY OF PAYMENTS. At Focus’ sole discretion, these Terms may constitute a claim for payment under the Building and Construction Industry Security of Payment Act 2002 (VIC) and/or the equivalent legislation in the other Australian jurisdictions (as applica- ble).