Queensland Update: Next tranche of Building Industry Fairness reforms to commence on 17 December 2018

Author: Luke Preston, Partner

Security of payment laws in Queensland will change again on 17 December 2018 with the commencement of Parts 3, 4 and 5 of the Building Industry Fairness (Security of Payment) Act 2017 (BIF Act).

Stage 1 of the reforms commenced on 1 March 2018 with the implementation of project bank accounts for building head contracts entered with the Queensland government with a contract price or value between $1 million and $10 million.

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