The Queensland Building and Construction Commission (QBCC) Act places restrictions on the value of the deposit you can request. If the cost of the construction work is for more than $20,000, then you are able to request up to a 5% deposit of the total price. This total price includes labour, materials and GST.
Payment schedules are also common within the building and construction industry. The contract typically details these, aligning payments to milestones within the project.
If you’d like our lawyers to review your construction contract, give us a call.