Victorian Consolidated Legislation

Building and Construction Industry Security of Payment Act 2002 - SECT 10

Amount of progress payment

10. Amount of progress payment



(1) The amount of a progress payment to which a person is entitled in respect
of a construction contract is to be-

   (a)  the amount calculated in accordance with the terms of the contract; or

   (b)  if the contract makes no express provision with respect to the matter,
        the amount calculated on the basis of the value of-

   (i)  construction work carried out or undertaken to be carried out by the
        person under the contract; or

   (ii) related goods and services supplied or undertaken to be supplied by
        the person under the contract- as the case requires.

(2) Despite subsection (1) and anything to the contrary in the construction
contract, a claimable variation may be taken into account in calculating the
amount of a progress payment to which a person is entitled in respect of that
construction contract.

(3) Despite subsection (1) and anything to the contrary in the construction
contract, an excluded amount must not be taken into account in calculating the
amount of a progress payment to which a person is entitled in respect of that
construction contract.