Construction Contracts – 3 key dates

1 December 2015 – Payment Claims There is now no distinction between a residential and a commercial construction contract (with the exception of charging orders).  All payment claims issued by a contractor must attach Form 1 from the Construction Contracts Regulations 2015 to be a valid payment claim under the Construction Contracts Act (CCA).  You…

Changes to retentions

What are the proposed changes? Changes are being mooted to retention arrangements. The Government has announced that a "deemed trust" arrangement is their proposed solution to protect subcontractors from circmustances like those that followed Mainzeal’s collapse. Retention funds won’t need to be held in a separate bank account though so whether the funds are truly…

The new NZS 3910:2013 standard form building contract has been published

Most residential property developers use the NZS 3910 standard form of building contract.  It’s used for infrastructure works for a subdivision or for building high-rise apartments.  It’s used regardless of the procurement method e.g. traditional client-designed projects, design/build (with or without novated design consultants).  NZS 3910 has just had a make-over.  This should mean fewer special conditions…

Whats different about residential property development in 2013?

We are seeing new structures and different property offerings.  Now Government, Council, community organisations, iwi are all active in this space.  The focus is mostly affordable housing – ironically being delivered via complex contract structures with multiple parties involved, probably adding cost to the development process.  But the land is going into and out of…

Congratulations to the Sugartree development team

           Sugartree have secured their development finance and have started the construction of Stage 1 which comprises 148 apartments and 15 retail units together with basement car parking. Stages 2 and 3 include 425 more apartments, more commercial units, carparking and a rooftop garden.  The team at AlexanderDorrington have been working with the Sugartree developers…