Phased rollout of Queensland’s Project Trust Account regime delayed to 2025
Project Trust Accounts (PTAs) are required for eligible building contracts for: State Government and Hospital and Health Services valued at $1 million or more (ex.GST); and Since 1 January 2022, for contracts in the private sector and local government contracts valued at $10 million or more (ex. GST). On Sunday, 19 March 2023, the Queensland […]
ReadmoreThe days have aligned: Queensland Court of Appeal confirms the prescribed period for issuing a payment schedule in response to a payment claim
Key takeaways The recent decision by the Queensland Court of Appeal in Allencon Pty Ltd v Palmgrove Holdings Pty Ltd trading as Carruthers Contracting[1] is a pertinent reminder to parties to a building and construction contract to carefully check: whether a timeframe under a contract refers to ‘day’, ‘working day’, ‘business day’, or similar – […]
ReadmoreRising and falling in 2022 – Contractual responses to cost increases in construction contracts
A lot has happened in 2022 to keep the construction sector on its toes. An ongoing pandemic, floods and sustained wet weather across the Eastern seaboard, supply chain disruption, a change of federal government, war in Ukraine, high profile insolvencies (in particular the residential construction sector), tight labour markets and last, but definitely not least, […]
ReadmoreA storm in a contract
Weather patterns in 2021 and 2022 have been – at best – challenging for construction, and this has put many projects under pressure. Extensions of time may not be available for the prolonged wet weather that has affected much of the east coast of Australia, and force majeure clauses have generally been of little assistance […]
ReadmoreQueensland’s Project Trust Account phased rollout delayed
Project Trust Accounts (PTAs) are currently required for eligible contracts for: State Government and Hospital and Health Services valued at $1 million or more (ex. GST); and since 1 January 2022, the requirement to have a PTA has been extended to the private sector and local government building contracts valued at $10 million or more […]
ReadmoreWebinar | Navigating the infrastructure landscape for effective major project negotiations
Most significant publicly funded developments for major infrastructure – roads, rail, ports, tunnels and the like – intersect with other core infrastructure, such as utilities – gas, water, electricity – which may be highly regulated but are usually privately owned. Negotiating the rights, obligations and risks of the respective parties is delicate and difficult, complicated […]
ReadmoreAvoiding unintended consequences
The Building Industry Fairness (Security of Payment) Act 2017 (BIF) contains new provisions designed to protect payments to subcontractors in building projects by setting up a form of statutory trust, of which subcontractors are beneficiaries. Chapter 2 of the Building Industry Fairness (Security of Payment) Act 2017 (BIF) contains new provisions designed to protect payments to subcontractors in […]
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