CONSTRUCTION INDUSTRY SET FOR FASTER DISPUTE RESOLUTION

CONSTRUCTION INDUSTRY SET FOR FASTER DISPUTE RESOLUTION
THE STATE government has announced plans to speed up the process of resolving disputes in the construction industry.

Changes to the Building and Construction Industry Payments Act 2004 aim to make the system fairer and follows recent cuts to red tape in the sector.

Minister for housing and public works Tim Mander says the update will help restore confidence, after widespread dissatisfaction with lengthy timeframes.

“The building and construction industry contributes around $26 billion annually so it’s essential that we have a fair payment system in place.

“In the past, claimants approached an authorised nominating authority who would appoint an adjudicator on their behalf, creating the perception of a conflict of interest,” he says.

Mander says the Queensland Building and Construction Commission will find relevant adjudicators instead, as well as funnel claims according to size and complexity.

“In the past a one size fits all approach meant the same timeframes applied whether the dispute was over $500 or $5 million.

“Under the new rules, respondents to large or complex claims where the sum involved is more than $750,000 will be given extra time to respond.”

The changes will be introduced to parliament by mid-year and are expected to come into effect in late 2014.

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Facing the latest impacts of cyber-crime: cyber insurance premiums increase for businesses
Partner Content
As Australian businesses are forced to adapt to a new normal yet again, a different typ...
Aon
Advertisement

Related Stories

Dubber expands AI expertise with $6.6m acquisition of Brisbane-based Notiv

Dubber expands AI expertise with $6.6m acquisition of Brisbane-based Notiv

ASX-listed software group Dubber Corp (ASX: DUB) has today acquired...

Can Queensland cash in on the NRL finals? It’s all about ‘event leveraging’

Can Queensland cash in on the NRL finals? It’s all about ‘event leveraging’

Queensland's love of rugby league, and the fact the state isn...

QLD businesses urged to line up early for 2032 Olympic economic boom

QLD businesses urged to line up early for 2032 Olympic economic boom

Queensland businesses are being encouraged to collaborate early wit...

Hotel Property Investments and Good Drinks Australia pick up pub assets

Hotel Property Investments and Good Drinks Australia pick up pub assets

Two ASX-listed companies have picked up pubs this week, with Hotel ...