If you operate within the Building Industry, does the BUILDING AND CONSTRUCTION INDUSTRY PAYMENTS ACT 2004 apply to you?  I have worked with several businesses within the building industry, and do not claim to be an expert by any means.  It seems that businesses within the Building and Construction Industry may not pay an invoice in its entirety, they may hold back until the job is completed.  I have also heard of 10% of the payment held back until a year after completion.

 

It is worthwhile checking with an expert if you are experiencing payment issues.

 

You may also benefit from including the following phrase on your invoices;

 

This is a payment claim made under the Building and Construction Industry Payments Act 2004 (QLD)

 

The construction work or related services in respect of which this Payment Claim is made and the method of calculation of the total amount of the claim are set out in the Attachment(s) to this Payment Claim.

 

 

from Heather Smith ~ MYOB Certified Consultant