CONSTRUCTION INDUSTRY SET FOR FASTER DISPUTE RESOLUTION

Written on the 9 April 2014

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.

Latest News

DOWNER EDI GRABS MORE THAN 50 PER CENT STAKE IN HOSTILE TAKEOVER TARGET SPOTLESS

DOWNER EDI Limited (ASX: DOW) now holds more than 50 per cent of Spotless Group Holdings Limited's (ASX: SPO) sha...

ACCODEX AIMS TO RAISE $5 MILLION CAPITAL, AWARD FOR CEO A CHERRY ON TOP

ACCOUNTANT Chris Hooper has never been one to shy away from voicing his opinion when it comes to the state of his ...

AVEO GROUP TO BUY BACK SHARES FOLLOWING MEDIA INVESTIGATION

FOLLOWING last night's Four Corners report which revealed accusations against Aveo Group (ASX: AOG) of financi...

STRUGGLING TEN NETWORK IS 'CASH POSITIVE' AND CAN BE SAVED, ADMINISTRATOR SAYS

THE ADMINISTRATORS of the Ten Network say the struggling broadcaster has cash to continue operating and have also ind...

Related News

DOWNER EDI GRABS MORE THAN 50 PER CENT STAKE IN HOSTILE TAKEOVER TARGET SPOTLESS

DOWNER EDI Limited (ASX: DOW) now holds more than 50 per cent of Spotless Group Holdings Limited's (ASX: SPO) sha...

STRUGGLING TEN NETWORK IS 'CASH POSITIVE' AND CAN BE SAVED, ADMINISTRATOR SAYS

THE ADMINISTRATORS of the Ten Network say the struggling broadcaster has cash to continue operating and have also ind...

METCASH NET PROFIT FALLS 20 PER CENT, ANNOUNCES CEO WILL STEP DOWN IN 2018

FOOD and grocery giant Metcash has announced its full year net profit has fallen more than 20 per cent and its CEO Ia...

SHARE PRICE PLUNGE FOR RETIREMENT VILLAGE OPERATOR AHEAD OF FOUR CORNERS INVESTIGATION

A RETIREMENT village operator which has been accused of charging excessive fees through complex contracts has respond...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter