Important information for Building and Construction Businesses
The Building Industry Fairness (Security of Payment) Act (BIF) has replaced the old ‘BCIPA’ security for payment legislation.
As everyone in the building industry knows (or should know!), the new ‘security for payment’ legislation has into force in Queensland in December 2018.
The changes will affect how owners, builders and contractors must make and respond to (and pay) payment claims for almost all building work in Queensland, from 17 December 2018 onwards.
The changes apply no matter when you entered into your contracts, and regardless of attempts to avoid meeting the BIF requirements, and there are also significant penalties, fines and QBCC disciplinary action if you don’t comply.
Don’t get biffed by BIF!
If you need help understanding the changes, if you’re unsure how they will impact your business, or you want assistance with making sure your contracts and systems don’t leave you at risk, then Doug McKinstry, Sean Webb and the building and construction team at WGC Lawyers can help.”
Author: Sean Webb