Victorian Consolidated Legislation

Building and Construction Industry Security of Payment Act 2002 - SECT 34

Notice of claim operates as assignment of debt

34. Notice of claim operates as assignment of debt



(1) The service of a notice of claim on the principal operates to assign to
the claimant the obligation of the principal to pay the money owed under the
contract to the respondent.

(2) The assignment is limited to the claimant's certified debt.

(3) The assignment is subject to any prior assignment under this Division that
is binding on the principal and the respondent.