Articles

Posted Oct 07, 2021 DECENNIAL LIABILITY INSURANCE; BLOCKCHAIN AND INDUSTRY RATINGS – PROPOSED REFORMS TO ADDRESS BUIDING DEFECTS
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INTRODUCTION As part of a series of reforms to the residential building sector; the NSW Government is considering the introduction of a Decennial Liability Insurance defects scheme to protect apartment owners ten years after the completion of buildings. This is in addition to other data-based initiatives by the NSW government utilising blockchain and industry ratings…

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Posted Sep 29, 2021 When Does A Contract Become Binding?
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Written by Emilee Clark The starting point to determine whether a contract is binding is to establish whether there is a common consensus between the parties to create a binding contractual relationship. However, the expression of an intent to create a legally binding relationship is not always found in the form of a formal written…

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Posted Sep 21, 2021 The Prevention Principle and Liquidated Damages
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Summary The effect of the Prevention Principle is that a “principal” (that is, an owner / developer / contractor) cannot enforce liquidated damages upon its contractor if it is responsible for its contractor’s delay. As most parties to construction and infrastructure contracts would be aware, liquidated damages are a predetermined amount payable by a contractor/subcontractor…

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Posted Jun 28, 2021 Important Changes for the Design and Building Practioners Effective 1 July 2021
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In December 2020, the Government introduced for discussion the Design and Building Practitioners Regulation 2020. This will become effective from 1 July 2021 and applies to Class 2 residential/mixed-use buildings only. We set out below the key features of the Regulation: REGISTRATION Practitioners must be registered. This applies to all principal design practitioners, design practitioners,…

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Posted Jun 01, 2021 Phoenix Activity: When Legality Turns Murky
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WHAT IS ILLEGAL PHOENIX ACTIVITY? Kreisson is often asked by trade suppliers, professional consultants, and subcontractors in the building and construction industry to help recover unpaid debts from ‘phoenix’ operators. Illegal phoenix activity involves the creation of a new company to take over an existing business for often less than market value. After it has…

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