Queensland Legislation.

For a final settlement, a claim has to be made within 6 months of the work being done or the relevant products and services being supplied, or the period specified in the contract. Safety of payment schedule security of payment act reforms are aimed at attending to considerable issues faced by sector professionals and subcontractors around fair and prompt payment for their completed work.

As an example, in Queensland an insurance claim can be made up to 6 months after the work has actually been supplied (unless otherwise defined in the contract) yet in New South Wales an insurance claim can be made up to year after the work has actually been provided.

In the sector, the Act is generally called the Security of Settlement Act", where protection of repayment refers to a company's right to obtain settlement as it falls due under a contract. A settlement case made by a head service provider must be come with by a sustaining statement that states all subcontractors have been paid.

An adjudicator will assess the settlement claim and might ask for written entries from the celebrations. Reliable resolution of conflicts for the structure and building and construction market. The Structure Market Fairness (Protection of Settlement) Act 2017 gives a debt-recovery procedure for that operate in the building market in Queensland.