'Better payment outcomes' Discussion Paper 28 October 2014
Calls for initiatives to boost better payment outcomes continue to be raised by stakeholders in the building and construction industry. This 'Better Payment Outcomes' Discussion Paper outlines further reforms proposed for the Building and Construction Industry Payments Act 2004 (BCIPA). These include:
- The creation of a Construction Retention Trust Scheme where retention moneys would be placed into a trust account administered by the QBCC in order to protect retention payments for subcontractors.
- An adjudicator's ability to direct the release of a valuable security instrument such as a bank guarantee.
- The establishment of Project Bank Accounts on government projects to guarantee payment for subcontractors through the use of a trust account system
- The consideration of whether certain unfair construction contract terms should be considered invalid to help alleviate pressures placed on subcontractors
- The proposed review and re-write of the Subcontractors' Charges Act 1974
We invite you to comment on the paper and provide any additional ideas that you feel will strengthen the payment outcomes for subcontractors.
You can provide your feedback:
If you wish to deliver further comments or submissions, please do so:
Queensland Building and Construction Commission
GPO Box 5099
Brisbane QLD 4001
QBCC will be holding information sessions around the state in November and December. These sessions will cover both the 'Better Payment Outcomes' Discussion Paper and an update on the legislative reforms at QBCC and how they affect you.
Details of these seminars can be found in our Contractor Education area.