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A guarantee on a building contract creates a right to enforce a contract against another person who is not party to the contract, should your client default on payment. HIA’s New Dwellings, Renovations and Additions and Cost Plus contracts all include a form of guarantee to protect you financially.
This handy resource outlines the answers to our members’ frequently asked questions about guarantees as they relate to building contracts in NSW. It covers how to obtain one, the rights a guarantee provides you with and how to enforce a guarantee in the event of a dispute. Learn everything you need about guarantees and building contracts.
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Residential building professionals engaged in contractual relationships in NSW.