A building contract must :
- be in writing and legible
- set out all terms
- show the business name of the contractor and licence number and the names and licence numbers of business partners (if applicable)
- be signed by the contractor and owner (or their agents) and
- stipulate a fixed price (can include a “rise and fall clause”), and payment terms.
Form 1 must be attached to the contract. It is also available from Service SA. The contractor must give the building owner a signed copy of the contract and Form 1.
Allowable payments under the contract (example only)
A progress payment (PP) is made when work is completed.
- Maximum deposit: $1,000 plus costs eg. plans, council approvals, building indemnity insurance, soil, engineer's or surveyor's reports
- Footings completed (PP 1)
- Framing completed (PP 2)
- Progress payments continue until completion.
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