Victorian Current Acts Victorian Current ActsS. 3(1) amended by No. 42/2006 s. 4(1)(a)(i)(ii).
(1) The object of this Act is to ensure that any person who undertakes to carry out construction work or who undertakes to supply related goods and services under a construction contract is entitled to receive, and is able to recover, progress payments in relation to the carrying out of that work and the supplying of those goods and services.
S. 3(2) amended by No. 42/2006 s. 4(1)(b).
(2) The means by which this Act ensures that a person is entitled to receive a progress payment is by granting a statutory entitlement to that payment in accordance with this Act.
(3) The means by which this Act ensures that a person is able to recover a progress payment is by establishing a procedure that involves—
(a) the making of a payment claim by the person claiming payment; and
(b) the provision of a payment schedule by the person by whom the payment is payable; and
(c) the referral of any disputed claim to an adjudicator for determination; and
S. 3(3)(d) amended by No. 42/2006 s. 4(1)(c).
(d) the payment of the amount of the progress payment determined by the adjudicator; and
(e) the recovery of the progress payment in the event of a failure to pay.
S. 3(4) substituted by No. 42/2006 s. 4(2).
(4) It is intended that this Act does not limit—
(a) any other entitlement that a claimant may have under a construction contract; or
(b) any other remedy that a claimant may have for recovering that other entitlement.