Building Industry Fairness Update!
Amendments to the ‘Act’ were passed by Parliament on 5 September 2018.
The only change to Chapter 3: Progress Payments, was to section 76, which relates to when Payment Schedules must be given.
Master Builders links:
Read the news item (<—Link) for more information on the (Link—>) BIF changes that impacted subcontracts.
What do you need to know?
from Corrs Chambers Westgarth Lawyers:
Principals, contractors and subcontractors operating in Queensland should become familiar with the new project bank account regime under the Building Industry Fairness (Security of Payment) Act 2017 (BIF Act), which commenced on 1 March 2018.
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