Queensland Consolidated Acts Queensland Consolidated Acts(1) A building contractor must not enter into a regulated contract stating--
(a) an amount for a prime cost item that is less than the reasonable cost of supplying and delivering the item; or
(b) a provisional sum that is less than the reasonable cost of providing the contracted services to which the sum relates.
Maximum penalty--50 penalty units.
(2) Subsection (1) does not apply to a building contractor for an item to be supplied, or a sum stated, by the building owner.
(3) In deciding, for subsection (1), what is a reasonable cost, regard must be had to--
(a) the information the building contractor had, or reasonably should have had, when the contract was entered into; and
(b) the nature and location of the building site.