Contract & Agreements

Fixed priced contracts and/or cost plus contracts are provided by BAM Constructions for all building works.  The contracts are supplied by the Housing Institute of Australia (HIA).  All clients will be provided with a hard copy duplicate of the contract prior to commencement of building works.

Any contract variations that occur will be confirmed with a variation document prior to any of this work commencing.  This document is completed by both the client and BAM to ensure that all works and costs are made aware to the client.

A copy of the Consumer Building Guide can be viewed at the Department of Fair Trading Website www.fairtrading.nsw.gov.au

Payment Terms

Upon a written contract being entered into together with any variation documents, the following payment terms apply:

• Initial deposit to be paid prior to building works commencing

   (10% for works under $20,000 & 5% for building works over $20,000)

• Invoices for works to be submitted as per payment schedule

   (this will be provided with your copy of the contract)

• Payment is to be made within 5 working days of each invoice  
• Method of payment is by direct deposit and/or cheque

• Payment via direct deposit and cheque is to be cleared within the 5 days from the date of invoice
• Final invoice payable on completion of all works

All payment details are subject to the Building and Construction Industry Security of Payment Act 1999 NSW. This act can be viewed a the the Department of Commerce Website www.dpws.nsw.gov.au