Payment Obligations in Cost-Plus Contracts: Lessons from Keegan v Ballast Point Pty Ltd
Building or renovating a home is an exciting time for homeowners, but it can also be a stressful and complex process. Cost-plus building contracts are a common type of contract used in the construction industry. They provide for payment of the actual cost of the building work, plus a fee to the builder for their services. However, as the recent case of Keegan v Ballast Point Pty Ltd illustrates, disputes can arise over payment obligations under these contracts. In this article, we will explore the lessons that homeowners can learn from this case.