When is lock up stage complete? Singh vs Ozzie Homes
A case between Singh and Ozzie Homes examines when lock-up stage is legally complete. Traditionally, builders consider lock-up done when a home is secure from elements and unauthorised access.
When is lock-up stage legally complete for progress payments?
Builders face payment and contract disputes if lock-up definitions are unclear. This affects when progress payments are triggered and could impact cash flow.
Key takeaways
- Lock-up stage is traditionally complete when a home is secure from elements and unauthorised entry.
- The Singh vs Ozzie Homes case tests the legal definition of lock-up stage completion.
- Unclear lock-up definitions can trigger payment disputes between builders and clients.
- Builders should review contracts to ensure lock-up milestones are clearly defined.
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