Queensland Consolidated Acts Queensland Consolidated Acts(1) A building contractor must not enter into a cost plus contract that would be a regulated contract unless--
(a) the contract is included in a class of contracts prescribed under a regulation; or
(b) the cost of a substantial part of the subject work can not reasonably be calculated without some of the work being carried out.
Maximum penalty--100 penalty units.
(2) A building contractor must not enter into a cost plus contract that would be a regulated contract unless the contract contains a fair and reasonable estimate by the building contractor of the total amount the building contractor is likely to receive under the contract.
Maximum penalty--100 penalty units.
(3) If a building contractor enters into a cost plus contract in contravention of this section, the building contractor can not enforce the contract against the building owner.
(4) However, the tribunal may, on an application made to the tribunal by the building contractor, award the building contractor the cost of providing the contracted services plus a reasonable profit if the tribunal considers it would not be unfair to the building owner to make the award.