QSS finance enhancements for the Building Industry Fairness Act
We’ve updated select finance services to meet the new requirements of the Building Industry Fairness Act 2017 (the BIF Act). The BIF Act comes into effect 17 December 2018. It introduces reforms to payment of construction work and supply of related goods and services in Queensland.
Identifying BIF payments
If you submit an invoice for processing via the QSS Self Service Centre, we have a new option for you to tell us it’s a payment covered by the BIF Act.
View a sample.
If we experience a backlog of work that makes it difficult for us to meet our 3-day turnaround time, we'll prioritise these invoices. Please note, eForms have a 1-day turnaround time.
We’ll also use this identifier to report on payments made under the BIF Act.
However, checking the BIF Act identifier box doesn't indicate to us that the invoice needs to be processed urgently.
BIF payment processing timeframes
The objective of the BIF Act is to ensure contractors and suppliers are paid by the due date. The due date for payment is still the date agreed in your contract or other written agreement.
Our normal payment processing timeframes still apply. Please allow 5 days from submitting the invoice to QSS and the vendor receiving payment. If your agency has elected to have irregular pay runs (check with your finance area), you may need to allow more time.
This is because:
- we have a 3-day processing timeframe for manual invoices
- we complete daily payment runs—your invoice may not be paid until the day after it is processed (this may be longer if your agency has opted for irregular pay runs)
- it may take a further day, depending on the vendor’s financial institution, before it appears in their account.
Please check your vendor record before you submit your invoice to make sure the vendor details are correct, and that the vendor is not blocked. If the vendor supplies a payment term (e.g. 30 days), we’ll pay the invoice according to the terms and on the due date; not before. If you need us to unblock the vendor or make changes, allow an additional business day for us to address this before we process your invoice.
Urgent BIF payments
If you need us to process a payment urgently, identify it as a BIF Act invoice and call us. We’ll invoice your agency for the additional hours of effort per our service level agreement.
If you do not intend to pay the full claimed amount, under the BIF Act you must issue a payment schedule. If you arrange a payment schedule, please get the vendor to issue full and complete invoices for each payment.
We only process full and complete invoices. We do not process part payments.
Note: if an invoice amount is disputed and you issue a payment schedule, you’ll need to get the vendor to reissue the invoice for the scheduled (lesser) amount, or get the vendor to provide a credit note to accompany the invoice.