Master Build Guarantee
Why do you need a Guarantee?
SJR Builders can assist you to apply to Master Build Services Limited for a Master Build Guarantee. If granted, a Master Build Guarantee will represent a three-way contract between you, SJR Builders and Master Build Services Limited.
A Master Build 10-year Guarantee protects you through the building process, and for the next 10 years. It provides much greater protection than both the Building Act and the Consumer Guarantees Act.
Whilst the vast majority of building projects will run smoothly, sometimes things do go wrong. The Guarantee provides a process to resolve those issues. It may also be that in 10 years’ time your builder is no longer working. The Guarantee is there to protect your investment.
Premium Master Build Guarantee (Only available for works over $100,000)
- Cover for up to $500,000
- Loss of deposit cover (up to 5% of contract price of $25,000, whichever is less)
- Non-completion cover (up to 10% of contract price or $40,000, whichever is less)
- Defects in materials and workmanship (2 years from practical completion)
- Structural defects and rot and fungal decay cover (10 years from practical completion)
Standard Master Build Guarantee
- Cover for up to $100,000
- Loss of deposit cover (up to 5% of contract price or $15,000, whichever is less)
- Non-completion cover (up to 10% of contract price or $30,000, whichever is less)
- Defects in materials and workmanship (2 years from practical completion)
- Structural defects cover (10 years from acceptance of guarantee)
- NB: Option to opt out of loss of deposit and non-completion cover, which brings costs down to $900
Kiwi Master Build Guarantee (Only available for works under $100,000)
- Cover for up to $100,000
- Remedial works (for problem arising before practical completion), cover (up to 20% of contract price or $20,000, whichever is less)
- Defects in materials and workmanship (2 years from practical completion)
- Structural defects and rot and fungal decay cover (10 years from acceptance of guarantee).
- If something does go wrong with your build, your Guarantee kicks in and they will step in to help you get your home finished to the highest standard
- It adds value to your property
- Its fully transferable if you decide to sell
- It helps finance the build, as most banks demand it
- It costs less than 1% of the total build cost to protect your biggest investment
Regardless of what happens in the future, Registered Master Builders will be there to help you for the next 10 years – its peace of mind guaranteed.
