About the guarantee
The Premium 10 Year Master Build Guarantee can
only by offered by a Registered Master Builder.
The Guarantee covers residential building work with a contract price of over $25,000 and covers:
-
Loss of Deposit or Non Completion
-
Defect in Materials and Workmanship
-
Structural Defects
What are you covered for?
Either
Loss of deposit
Up to 5% of the Contract Price to a maximum of
$25,000, if the permanent work hasn’t started.
Or
Non-Completion
Up to 10% of the Contract Price to a maximum of
$40,000 if the house or work isn’t finished.
Plus
Defects in materials* and
workmanship and structural defect
Protection against any defects in workmanship and
materials*, or structural elements, for two years after
completion of the building.
Plus
Structural cover
Cover for defects in specific structural elements
of the building work, after expiry of the Materials,
Workmanship and Structural cover, for a total cover of
ten years from acceptance of the Guarantee.
Including
Rot and fungal decay
Cover for properties where the design, materials and
construction achieve a score of 12 or less based on the
E2/AS1 Risk Matrix**.
Maximum total aggregate
payout for all cover is:
$500,000 including GST.
* Materials which have a current certificate of accreditation or product certificate issued under the Building Act, or which, in Master Build Services' opinion, comply with an appropriate Australian or New Zealand standard.
** The E2AS1 is the Department of Building and Housing’s Acceptable Solution for Building Code clause E2 External Moisture. It incorporates a Risk Matrix which is a design tool that allows designers to analyse the weather tightness risk of a particular building design.
