- What is the purpose of the delivery guarantee at agreed prices and deadlines?
- The guarantee of delivery at agreed prices and deadlines: how does it work?
Building a house is sometimes a source of problems and complications and it is not uncommon to see the work drag on. When the shipyard is late or when the manufacturer does not respect the initial quote, the delivery guarantee at agreed prices and deadlines, also called completion guarantee, reinforces the protection of the buyer and ensures the delivery of the house in the time limits, whatever the circumstances. Find out what the benefits of this warranty are and how it ensures your safety and tranquility.
What is the purpose of the delivery guarantee at agreed prices and deadlines?
The delivery guarantee at agreed prices and deadlines is obligatory for all builders, contractors, builders or craftsmen who start building a house. It protects the buyer against a possible risk of incompleteness or improper performance of the work provided for in the contract of departure. This guarantee is very appreciated because even in case of manufacturer's failure, the buyer is insured that the house will be built in the best conditions.
The guarantee of delivery at agreed prices and deadlines: how does it work?
The delivery guarantee at agreed prices and deadlines is underwritten by the builder and not by the buyer. In case of delay in the work or in the event of bankruptcy of the manufacturer, a credit institution or an insurance company vouches for him and agrees that the house is completed at the agreed price from the outset. If ultimately, the builder requires a higher amount, the guarantor may charge you a deductible of up to 5% of the price of the house. As for the completion of the work, if the builder goes bankrupt or does not respect its commitments, the guarantor then designates a buyer who will take over and will take care of the continuation of the work at the same price and within identical deadlines.
The guarantor also covers the fixed penalties stipulated in the contract when a delay of more than 30 days is noted.
Please note that the delivery guarantee at agreed prices and deadlines comes into effect on the day of the opening of the site and ends at the reception of the work. To protect yourself from other problems such as poor workmanship or major damage, there are other types of cover such as the damage insurance, the biennial guarantee or the guarantee of perfect completion.