Improve security of payment

While recent reforms will ease some of the burden, there is no evidence that Project Bank Accounts (PBAs) have played a part in ensuring that the 1,000+ subbies involved in PBAs projects were paid in full, on time, every time. PBAs have added to the cost of new construction and represent a cost to principals, builders and subcontractors. The government has recognised some of the concerns and amended the PBA system to a system of Project Trust Accounts, still many of the same problems remain.

  • Scrap the plan to introduce Project Trust Accounts (new version PBAs) into the private sector from January 2022.
  • Scrap Project Trust Accounts in the government sector.
  • Introduce cascading Retention Trust Accounts in the government and private sectors for head contracts over $1 million.
  • Require all payment claims under Chapter 3 Building Industry Fairness Act to state that it is a statutory payment claim to protect claimants’ rights.
  • Implement a comprehensive payments dispute system that can address defective work and non-payment without the need for court action.

Major Sponsors

BUSSQ Bluescope QLeave Bluescope