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DEVELOPER BUILDING
BONDS -

Developers are now required to lodge a building bond with NSW Fair Trading to the value of 2 percent of the contract value for works to secure funding for the rectification of defective building work...

Find out what you need to know.
This eBook will take you through the 7 stages of bond lodgement:
  • Stage 1 - Lodgement of the building Bond
  • Stage 2 - Appoint a building Inspector
  • Stage 3 - Interim Report by the Inspector
  • Stage 4 - Rectification of defects by builder
  • Stage 5 - Final Report by the Inspector
  • Stage 6 - Payment of the Bond
  • Stage 7 - Completing the process

A helpful timeline that sets out the stages is also annexed.

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