Queensland Consolidated Acts Queensland Consolidated Acts(1) A building contractor must not enter into a regulated contract providing for prime cost items or provisional sums unless the contract contains a separate schedule stating the required details for each item or sum.
Maximum penalty--50 penalty units.
(2) For subsection (1), the required details for a prime cost item are as follows--
(a) a detailed description of the item;
(b) a breakdown of cost estimates provided for in the allowance for the item;
(c) if the building contractor proposes to charge an amount (the excess amount) above the actual amount of any increase in the cost of the item--how the excess amount is to be calculated.
(3) For subsection (1), the required details for a provisional sum are as follows--
(a) a detailed description of the contracted services to which the sum relates;
(b) a breakdown of cost estimates provided for in the sum;
(c) if the building contractor proposes to charge an amount (the excess amount) above the actual amount of any increase in the sum--how the excess amount is to be calculated.
(4) For subsection (2)(b) or (3)(b), the breakdown must, if appropriate, show, at least, the estimated quantities of materials involved and the unit cost to the building contractor.