A

A company is under administration from the time an administrator is appointed to investigate the solvency of a company. Administration ends when the creditors or court are either satisfied that it should end or determine that the company should be wound up. The process can either be voluntary or initiated by the court.

A Commonwealth tribunal established by the Administrative Appeals Tribunal Act 1975 (Cth) to provide a right of review of decisions made by Commonwealth administrative authorities and officials. The AAT reviews decisions on merits and generally has power to confirm, vary or substitute a new decision, or require the original decision maker to reconsider its determination. The procedures of the AAT are usually less formal than those of a court.

Income insurance arranged prior to the commencement of the insured’s business. It is intended to protect against delayed start of revenue generation caused by loss or damage affecting the project during the construction period. Loss of revenue and profits may otherwise be regarded as a part of Consequential Loss and may not be recoverable under the Contract. 'Business interruption' or 'business income' insurance protects a business' income stream, as distinct from its property (such as plant, buildings and inventory). If the business is temporarily forced to stop or reduce operations due to an insurable event, the insurance cover keeps the business solvent until it can resume normal trading, by paying ongoing expenses (which may include maintenance of profits).

Payment by a Principal to a Contractor which is made in advance of the progress of the Works. A Contract may provide for advance payment where there are large mobilisation or tooling costs, or long lead time procurement required of the Contractor.