GLOSSARY TERM  
  Pay when Paid (NSW)  
 
  DESCRIPTION  
  As defined by the Building and Construction Industry Security of Payment Act 1999 (NSW), a provision of a construction contract that makes the liability to pay money owing, or the due date for payment of money owing, contingent or dependent on the payment by a third party.
A pay when paid provision of a construction contract has no effect in relation to any payment for construction work carried out or undertaken to be carried out (or for related goods and services supplied or undertaken to be supplied) under the contract.