QLD Security of Payment Legislation

QLD

The amendments to the Building and Construction Industry Payments Act 2004 (Qld) (BCIPA) came into force on 15 December 2014.  The key change is the simplifying of the classes of claims.

Standard Claims

• all claims below $750,000.00
• a payment schedule must be served within 10 business days after the payment claim is received

Complex Claims

• all claims greater than $750,000.00
• a payment schedule must be served within 15 business days (if a payment claim was served within 90 days of the reference date)
• a payment schedule must be served within 30 business days (if a payment claim was served 91 days onwards of the reference date)