sec.73Due date for payment

### sec.73 Due date for payment A progress payment under a construction contract becomes payable— if the contract provides for the matter—on the day on which the payment becomes payable under the contract; or A ‘pay when paid’ provision in a construction contract has no effect, see section 74 . A provision in a construction management trade contract or subcontract providing for payment of a progress payment later than 25 business days is void, see the Queensland Building and Construction Commission Act 1991 , section 67U . A provision in a commercial building contract providing for payment of a progress payment later than 15 business days is void, see the Queensland Building and Construction Commission Act 1991 , section 67W . if the contract does not provide for the matter—on the day that is 10 business days after the day a payment claim for the progress payment is made under part 3 . Interest for a construction contract is payable on the unpaid amount of a progress payment that has become payable at the greater of the following rates— the rate stated in the contract; the rate prescribed under the Civil Proceedings Act 2011 , section 59 (3) for a money order debt. However, for a construction contract to which the Queensland Building and Construction Commission Act 1991 , section 67P applies because it is a building contract, interest is payable at the penalty rate under that section. Each of the following construction contracts are taken to be a contract to which subsection (1) (b) applies— a construction contract that includes a ‘pay when paid’ provision; a construction management trade contract or subcontract mentioned in the Queensland Building and Construction Commission Act 1991 , section 67U ; a commercial building contract mentioned in the Queensland Building and Construction Commission Act 1991 , section 67W . In this section— ‘pay when paid’ provision , of a construction contract, see section 74 . (sec.73-ssec.1) A progress payment under a construction contract becomes payable— if the contract provides for the matter—on the day on which the payment becomes payable under the contract; or A ‘pay when paid’ provision in a construction contract has no effect, see section 74 . A provision in a construction management trade contract or subcontract providing for payment of a progress payment later than 25 business days is void, see the Queensland Building and Construction Commission Act 1991 , section 67U . A provision in a commercial building contract providing for payment of a progress payment later than 15 business days is void, see the Queensland Building and Construction Commission Act 1991 , section 67W . if the contract does not provide for the matter—on the day that is 10 business days after the day a payment claim for the progress payment is made under part 3 . (sec.73-ssec.2) Interest for a construction contract is payable on the unpaid amount of a progress payment that has become payable at the greater of the following rates— the rate stated in the contract; the rate prescribed under the Civil Proceedings Act 2011 , section 59 (3) for a money order debt. (sec.73-ssec.3) However, for a construction contract to which the Queensland Building and Construction Commission Act 1991 , section 67P applies because it is a building contract, interest is payable at the penalty rate under that section. (sec.73-ssec.4) Each of the following construction contracts are taken to be a contract to which subsection (1) (b) applies— a construction contract that includes a ‘pay when paid’ provision; a construction management trade contract or subcontract mentioned in the Queensland Building and Construction Commission Act 1991 , section 67U ; a commercial building contract mentioned in the Queensland Building and Construction Commission Act 1991 , section 67W . (sec.73-ssec.5) In this section— ‘pay when paid’ provision , of a construction contract, see section 74 . - (a) if the contract provides for the matter—on the day on which the payment becomes payable under the contract; or Notes— 1 A ‘pay when paid’ provision in a construction contract has no effect, see section 74 . 2 A provision in a construction management trade contract or subcontract providing for payment of a progress payment later than 25 business days is void, see the Queensland Building and Construction Commission Act 1991 , section 67U . 3 A provision in a commercial building contract providing for payment of a progress payment later than 15 business days is void, see the Queensland Building and Construction Commission Act 1991 , section 67W . - 1 A ‘pay when paid’ provision in a construction contract has no effect, see section 74 . - 2 A provision in a construction management trade contract or subcontract providing for payment of a progress payment later than 25 business days is void, see the Queensland Building and Construction Commission Act 1991 , section 67U . - 3 A provision in a commercial building contract providing for payment of a progress payment later than 15 business days is void, see the Queensland Building and Construction Commission Act 1991 , section 67W . - (b) if the contract does not provide for the matter—on the day that is 10 business days after the day a payment claim for the progress payment is made under part 3 . - 1 A ‘pay when paid’ provision in a construction contract has no effect, see section 74 . - 2 A provision in a construction management trade contract or subcontract providing for payment of a progress payment later than 25 business days is void, see the Queensland Building and Construction Commission Act 1991 , section 67U . - 3 A provision in a commercial building contract providing for payment of a progress payment later than 15 business days is void, see the Queensland Building and Construction Commission Act 1991 , section 67W . - (a) the rate stated in the contract; - (b) the rate prescribed under the Civil Proceedings Act 2011 , section 59 (3) for a money order debt. - (a) a construction contract that includes a ‘pay when paid’ provision; - (b) a construction management trade contract or subcontract mentioned in the Queensland Building and Construction Commission Act 1991 , section 67U ; - (c) a commercial building contract mentioned in the Queensland Building and Construction Commission Act 1991 , section 67W .