From 30 September, Building Management and Works (BMW) projects with a construction contract value of more than $1.5 million and that use the Australian Standard (AS) 2124 General Conditions of Contract will adopt project bank accounts.

The Department is holding a briefing sessions in Broome on project bank accounts for contractors, subcontractors and consultants that work or intend to Tender for Building Management and Works projects. The consultants' sessions may also be of interest to subconsultants who are welcome to attend. These are generic sessions that are aimed at ensuring contractors, subcontractors and consultants understand how the project bank accounts model will operate and the implications they hold for those engaged on BMW projects.

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