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The Building and Construction Industry Security of Payment (SOP) Act came into operation on 1 April 2005. The Act aims to improve cash-flow in the built environment sector by giving parties the right to seek progress payment for work done. It also provides a fast and low-cost adjudication mechanism to resolve payment disputes.
This revised edition incorporates all amendments up to and including 1 December 2021 and comes into operation on 31 December 2021. An Act to facilitate payments for construction work done or for related goods or services supplied in the building and construction industry, and for matters connected therewith.
The Building and Construction Industry Security of Payment (SOP) Act aims to improve cash-flow of the construction industry by (i) providing a statutory right to payment and (ii) establishing adjudication as a speedy and low-cost payment dispute resolution mechanism.
the Act include the claimant’s right to (a) request direct payment from principal, (b) exercise lien over goods supplied and (c) the enforcement of adjudication determination as a judgment debt.
Dec 1, 2019 · Security of Payment Act seeks to affirm parties’ entitlement to payment for work done pursuant to a construction contract. Beyond this, the Act also provides claimants with a binding enforcement mechanism to obtain payment for an ongoing or completed project – a process known as adjudication.
Nov 26, 2019 · the person has working experience of at least 10 years in, or relating to, the building and construction industry in Singapore, and has successfully completed the pre-qualification assessment and training course conducted by the authorised nominating body.
Singapore Statutes Online is provided by the Legislation Division of the Singapore Attorney-General's Chambers
Jul 18, 2019 · The changes contained in the Building and Construction Industry Security of Payment Amendment Bill 2018 are the most extensive changes to the Security of Payment Act (SOP Act) since it became law in 2005.
Jan 29, 2024 · However, with the Building and Construction Industry Security of Payment Act (SOPA), a simpler, confidential and lower-cost adjudication procedure for contractors and related professionals to recover timely payments – both while a project is ongoing and after it has been completed – is available.
While the Singapore SOP Act was modelled substantially on the New South Wales legislation of the same name, it included additional features which are still considered to be novel.
