Recovering debts owed for building & construction work using any other means apart form the Security Of Payment act isn’t pleasant to think about.
The Security Of Payments Act puts justice within reach of everybody no matter how small the debt is and even how limited the resources are that are available to pursue the debt.
The Security Of Payment Act makes it almost entirely possible to recover a debt without having to commence costly, time consuming, drawn out legal proceedings.
Most times, once the adjudicator hands down his / her determination, the respondent pays up and that’s the end of it.
However in some instances enforcement of an adjudication determination is required but again, this is made easier because of the Security Of Payment act laws.
Adjudication is a very straightforward, fast, and inexpensive path that ultimately leads to a court judgment.
And once judgment is entered onto the court record the the enforcement phase of the debt recovery process can begin.
Unless a debtor goes bankrupt, or in the case of a company goes into liquidation, it is just a matter of time before the debt is recovered.
Successful debt recovery is all about utilising all of the enforcement means available and being relentless in the pursuit of the debtor.
A debt owed by and individual can be pursued for up to 7 years and for a company up to 10 years. But it would be unusual for it to take longer than weeks or months.