TECHNICAL ARTICLES
MECONPEDIA - technical articles
Understanding run-off & annual turnover policies
When you take out an Annual Projects policy, it can be set up on a run-off or annual turnover basis. Usually depending on the type
60 day cessation of work
Many factors present uncertain financial risks to contractors who are building in today’s environment. For example: supply chain delays, increasing material and labour costs, weather
Impact of COVID Shutdowns on Construction Contracts
With the recent COVID-related shutdowns of construction sites in NSW, four FAQs have arisen: Can builders claim for Extensions of Time (EoTs)? Can Liquidated Damages
Understanding “Market Value” Applying to Plant and Equipment
Why do we use “market value”, how is it established and what are the potential issues? Firstly, some policies define market value as the cost
A change to the Building and Construction Industry Security of Payment Act 1999 (NSW)
Until now, the Building and Construction Industry Security of Payment Act 1999 (NSW) only affected the commercial building sector. From 1 March 2021, owner occupiers
How Liable is the Builder?
Two recent court cases where judgements have gone against the builder . The Owners – Strata Plan 66375 vs King [2018] NSWCA170 The Kings were