Payment schedule : QBCC looking to prosecute
August 12, 2019
With the introduction of the rapid adjudication system in the Building Industry Fairness (Security of Payment) Act 2017 (which commenced 17 December 2018) a new offence provision was introduced. Penalties and/or licensing action could be taken by the QBCC where a respondent to a payment claim did not provide a payment schedule and pay the amount claimed.
The QBCC recently announced that it had fined two civil construction companies for failure to provide a payment schedule. Read the announcement here.
The QBCC have told HIA they are focusing on this provision and security of payment. This means that if contractors fail to provide a payment schedule (and pay the amount claimed) in accordance with the legislation they are likely to be liable for the entire amount claimed plus face fines or disciplinary action by the QBCC.
If your business is not on-top of the changes HIA has free educational webinars on security of payment regime. To access these pre-recorded videos log into the HIA website (www.hia.com.au) and locate the webinar and course materials under ‘Publications, Webinars, Recorded Webinars, QLD Members only’