Payment schedules

It’s a response to a payment claim – and in many states like QLD it law you have to provide one.

A payment schedule is ALWAYS required if the recipient of a payment claim is not intending to pay the payment claim in full by the due date.

A payment schedule is a written response to a payment claim, which:

Identifies the invoice or payment claim that it’s responding to;

States to a contractor the amount to be paid, if any

States reasons why the amount is less than the amount claimed.

BE WARNED! A payment schedule must be provided in response to every payment claim unless paying the full amount of the claim by the due date.

A payment schedule must be provided within 15 business days of receiving a payment claim or earlier if so stated in the contract unless the claim is paid in full AND BY the due date.

A penalty of 100 penalty units CAN BE ENFORCED for non-compliance.