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ARTICLE · 06 MARCH 2018

Security of payment changes in Queensland are announced

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The Government announced that on 1 July 2018, the modified process for security of payment will be in full effect.

AustraliaReal Estate and Construction
Peter Lamont
Peter Lamont
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Security of Payment

The Queensland Government has just announced that on 1 July 2018 the modified process for Security of Payment in Queensland under the Building Industry Fairness (Security of Payment) Act 2017 ('BIF') will be in full effect.

Under the BIF the modified regime will mean:

  1. Payment claims no longer need to be endorsed (a recipient must assume each claim is a statutory claim);
  2. Claimants will have longer to submit an adjudication application in most situations; and
  3. Respondents must issue a prompt payment schedule within the 'response period' or they will become liable to pay the full amount claimed (no more "second chances").

This announcement provides much needed clarity on the date of this key milestone in the overall suite of legislative reform for Security of Payment in Queensland.

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