Victorian Consolidated Regulations

2 Reg. 3(b): S.R. No. 126/1999. - SECT 12

Progress payments

12. Progress payments

For the purposes of section 40(4) of the Act, when parties to a major domestic
building contract agree that sections 40(2) and (3) of the Act do not apply to
that contract, the manner of agreement is to include in the major domestic
building contract-

   (a)  a warning in the form of Form 1 in the Schedule which is signed by the
        building owner before the execution of the contract; and

   (b)  a clause in the form of Form 2 in the Schedule.

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