Case studies on construction contract disputes under SOP act
Before the enactment of the Security of Payment Act (SOP Act), payment disputes for construction projects were often lengthy and costly to resolve. This was extremely detrimental to the survival of contractor firms which faced cash flow problems often leading to bankruptcy. The SOP Act was introduce...
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| Format: | Final Year Project |
| Language: | English |
| Published: |
2018
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| Online Access: | http://hdl.handle.net/10356/74790 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | Before the enactment of the Security of Payment Act (SOP Act), payment disputes for construction projects were often lengthy and costly to resolve. This was extremely detrimental to the survival of contractor firms which faced cash flow problems often leading to bankruptcy. The SOP Act was introduced by the Building and Construction Authority (BCA) after discussion with industry players, to improve cash flow in the industry. This report will focus on explaining the different facets of the Act and reasons for their implementation. Further analysis will also be conducted on two real-life case studies to better understand the interpretation and limitations of the Act from both the adjudicator’s and the court’s point of view. |
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