Victorian Current Acts

DOMESTIC BUILDING CONTRACTS ACT 1995 - SECT 33

    (1)     This section applies to a major domestic building contract that contains a provision—

        (a)     that allows for the contract price to change; but

        (b)     that is not a cost escalation clause as defined in section 15.

    (2)     A builder must not enter into such a major domestic building contract unless there is a warning that the contract price is subject to change and that warning—

        (a)     is placed next to that price; and

        (b)     is in a form approved by the Director; and

        (c)     specifies the provisions of the contract that allow for the change.

Penalty:     50 penalty units.

    (3)     If a warning is not included in a contract as required by subsection (2), any provision in the contract that enables the contract price to change only has effect to the extent that it enables the contract price to decrease.

Division 3—Cooling-off period after signing a contract