Queensland Consolidated Acts

QUEENSLAND BUILDING SERVICES AUTHORITY ACT 1991 - SECT 67A

In this part--

approved security provider means a financial institution that is an approved security provider under the Financial Accountability Act 2009.

building contract see section 67AAA.

carry out building work means--

(a) carry out building work personally; or

(b) directly or indirectly, cause building work to be carried out; or

(c) provide advisory, administrative, management or supervisory services for carrying out building work.

commercial building contract means a building contract that is not a construction management trade contract or a subcontract.

construction management trade contract means a building contract described in section 67B.

contracted party, for a building contract, means the party to the contract who is to carry out the building work the subject of the contract.

contracting party, for a building contract, means the party to the contract for whom the building work the subject of the contract is to be carried out.

contract price, for a building contract, means the amount payable under the contract for carrying out the building work the subject of the contract, including, if the contract has been the subject of a variation, the contract as varied.

payment claim see the Building and Construction Industry Payments Act 2004, schedule 2.

principal means a person who is the contracting party for a building contract and who--

(a) is not a building contractor; or

(b) is a building contractor, but did not enter into the building contract in the course of carrying on business as a building contractor.

progress payment see the Building and Construction Industry Payments Act 2004, schedule 2.

retention amount, for a building contract, means an amount described in section 67C.

security, for a building contract, means something--

(a) given to, or for the direct or indirect benefit of, the contracting party for the contract by or for the contracted party for the contract; and

(b) intended to secure, wholly or partly, the performance of the contract; and

(c) in the form of either, or a combination of both, of the following--

(i) an amount, other than an amount held as a retention amount for the contract;

(ii) 1 or more valuable instruments, whether or not exchanged for, or held instead of, a retention amount for the contract.

subcontract means a building contract described in section 67D.

valuable instrument means any of the following--

(a) a banker's undertaking;

(b) a bond;

(c) inscribed stock;

(d) a guarantee policy;

(e) an interest bearing deposit.

variation, of a building contract, means an addition to, or an omission from, the building work the subject of the contract.