When a dispute has arisen on a construction contract
or with an associated professional, and is unable to be resolved between the
parties, adjudication is generally the fastest and most cost effective
resolution option. Adjudication, which is subject to the Construction Contracts
Act 2002 as amended by the Construction Contracts Amendment Act 2015, is
confidential. The process allows the parties to continue to fulfil the
remainder of the contract conditions while the dispute is settled.
Contracts Act 2002.
- The Construction Contracts Act 2002 was introduced to better
ensure the continued flow of money within the construction industry.
- The Act, and amendments, provide for having payment and other
disputes in the building industry determined by an independent person called an
- The 2015 amendments widened the scope of the act to cover
contracts with professional advisors.
- The 2015 amendments also introduced the requirement under
commercial contracts to properly secure retention monies.