A formal Building contract can help both builders and consumers to establish the scope of work required and quantify the time and costs involved.

Most lenders will be expecting a formal building contract with a registered builder when lending money for construction purposes.

Building in Australia is regulated by each state. State legislation establishes the rules of operation and the project value limits beyond which a building contract should exist.

Builders must give building owners a copy of the contract and all relevant documents, such as plans and specifications.

To successfully manage your building contract, you must be actively involved in planning the content of the contract, so that everything you want in the construction of your new home or renovation is included. If details are not included in the contract, the builder is not required to deliver them.

All variations must be put in writing and signed by the owner before the variation is carried out.