Queensland Consolidated Acts Queensland Consolidated Acts(1) A building contractor must not enter into a regulated contract providing for a prime cost item or provisional sum unless the contract complies with subsection (2).
Maximum penalty--20 penalty units.
(2) The contract must be to the effect that any prime cost or provisional sum adjustment is to be allowed for in an increase or decrease in--
(a) if the contract provides for progress payments--the related progress payment; or
(b) if the contract does not provide for progress payments--the payment of the amount of the contract price.