Article Date: April 15th, 2005
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The act came into force on April 1st 2003 and aims to address the major problems in the construction industry. The Act came about from a need to address power imbalances between developers, main contractors and sub contractors mainly to solve problems with payments and dispute resolution.
The Act effects anyone who is involved in the construction industry, either providing or receiving services. If you arrange or perform any kind of construction work to be undertaken you may be affected.
The key aspects of the Act are;
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Pay if paid clauses are banned
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An entitlement to periodic payments, and the right to suspend work on giving 5 days notice if payments have not been received.
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A fast track disputes procedure - the right to refer a dispute to an adjudication process.
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