Queensland Consolidated Acts Queensland Consolidated Acts(1) A building contractor must not enter into a regulated contract containing a price change clause unless the contract contains a warning complying with this section.
Maximum penalty--20 penalty units.
(2) The warning must--
(a) state the contract price is subject to change; and
(b) state the provisions of the contract that allow for the contract price to be changed; and
(c) appear as near as practicable to the first reference in the contract to the contract price.
(3) If a warning is not included in a regulated contract as required under this section, any price change clause included in the contract has effect only to the extent it allows the contract price to decrease.
(4) In this section--
price change clause means a provision of a domestic building contract allowing for a change to be made to the contract price, but does not include a cost escalation clause.