This one-day workshop helps those involved in the management of construction contracts better understand how payment concepts in construction contracts can be structured to best achieve project objectives, through terms and conditions and optimum selection of input-based, output-based or outcome-based payment methods. The statutory regulation of contract payment processes by the Construction Contracts Act is described with some historical context and summaries of the coverage of the CC Act to some, but not all such contracts.
Requirements in both the CC Act and NZS 3910 are explained as are the consequences of not complying with the recently amended clauses. A role playing exercise helps participants understand just what has been changed through the legislation and recent amendments, illustrated by summaries of recent litigation. The Construction Contracts Act provides potentially speedy and effective methods of resolving potential disagreements about contractual obligations and entitlements, so the advantages or disadvantages of adjudication, arbitration or other suitable methods for dispute resolution are outlined.