For a residential building work contract above the prescribed amount, the owner may rescind by written notice within 5 clear business days after receiving a copy of the signed contract (or, if no copy was given within 5 days of signing, within 5 clear business days after becoming aware of the entitlement to one). Notice may be given personally, left at the contractor's address in the contract or served under the contract's notice clause. On rescission the contract is treated as rescinded from signing; the licence holder may keep reasonable out-of-pocket expenses incurred before rescission and must refund all other money paid, and the owner incurs no liability for rescinding; where work has been done the contractor is entitled to a reasonable price for it. The period can be shortened or waived only by a contract provision that takes effect once the owner gives a certificate from an independent Australian legal practitioner (not acting for or in the firm of the contractor's lawyer) stating the purpose and that the effect of the contract and certificate was explained. Contracts between licence holders, with a developer, fully prepared by the owner (unless the contractor added terms) and prescribed classes are excluded. Under s 7BB, if the contract lacks the required cooling-off statement the owner may rescind within 7 days of becoming aware of the omission, in the approved form if any, and the contractor's recovery for work done is capped at the contract amount.
This control maps to 1 controls across 1 other frameworks. If you already hold one of them, the evidence you collected for it is the starting point here rather than new work.
Every mapping shown was judged rather than inferred from wording similarity, and the ones that failed review are published too. See the coverage reports and what was rejected.
The graph holds this control, the 1 it maps to, and the evidence behind each claim, over MCP and REST.