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Master Build Guarantee
Effective 1 May 2012 all new Build Contracts will be covered by the Master Build Guarantee. Any Build Contracts signed prior to this date will be covered by the Goldseal Warranty.
The Guarantee Covers
1. Loss of Deposit: up to 5% of the contract price or $15,000 including GST, whichever is the lesser (Optional)
2. Non-Completion: up to 10% of the contract prior or $30,000 including GST, whichever is the lesser (Optional)
3. Defects in Materials: (for two years) after completion of the Dwelling or Works and the issue of a Certificate/Notice of Practical Completion, and provided that a Code Compliance Certificate has been applied for, and excluding labour-only building contracts
4. Defects in Workmanship: (for two years) after completion of the Dwelling or Works and the issue of a Certificate/Notice of Practical Completion, and provided that a Code Compliance Certificate has been applied for.
5. Structural Defects: after completion of the Dwelling or Works and the issue of a Certificate/Notice of Practical Completion, and provided that a Code Compliance Certificate has been applied for, until the tenth year anniversary of the date of acceptance.