Address
{{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change location Address
{{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change locationMember and guest login
Enter your email and password to access secured content, members only resources and discount prices.
Did you become a member online? If not, you will need to activate your account to login.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
Forgotten password
Need some help?
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
If the email address you have entered is registered, you will receive an email with further instructions.
Become part of the HIA community
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Create a guest account
Enter your details below and create a login
Security of payment – retention trust scheme
Do your contracts include a retention money clause? If so, you may be covered by the retention trust scheme under the Building and Construction Industry (Security of Payment) Act 2021 (WA) (SOP Act).
Tuesday, 07th June 2022
Retention money is funds withheld (either by the client from a builder, or a builder from a sub-contractor) as security for completing works as agreed. WA’s retention trust scheme (as part of the SOP Act) mandates that this money be held in trust, and controls how this money is managed.
A retention money clause can be added to standard building contracts as a special condition or may be included in client-drafted agreements. If the clause is in there, you may be covered by the scheme. So, it’s important to understand how retention money must be handled under WA law.
Get a fast understanding of the retention trust scheme in this informative and easy-to-read resource.
A retention money clause can be added to standard building contracts as a special condition or may be included in client-drafted agreements. If the clause is in there, you may be covered by the scheme. So, it’s important to understand how retention money must be handled under WA law.
Get a fast understanding of the retention trust scheme in this informative and easy-to-read resource.
Access this resource now
Non-Member price
{{product.currencySymbol}}{{product.listPrice | asCurrency}}
Member price
FREE
{{product.currencySymbol}}{{ membersPrice | asCurrency}}
Item added to cart
Please proceed to cart to checkout Cart
Item not added to cart
Please try again
Didn’t find what you were looking for?
Who is it for?
Building Professionals
Building professionals in Western Australia using or considering contracts that include a retention money clause.
What does it include?
- What is retention money?
- When is retention money required?
- What is the retention trust scheme?
- When does the scheme apply?
- What are the exclusions?