Browse Forums General Discussion 1 Dec 14, 2019 1:21 am This is my 1st build. I understand builders use contract template from HIA and Master Builder. I note that both don't provide any compensation to owners against any total contract price increase when switching to another builder when the original builder become insolvent, lost its licence or breach contract. May I know how does owner protect against price increase in such a situation? Builder claim QBCC would take care of that - but I don't find anyting in the QBCC website that provides that. any one have any idea? Re: contract provision 2Dec 14, 2019 4:46 pm You should always get your own independent contract review which if your consultant is good will answer your questions. Your builder will not compensate you if there is insolvency, that's why there is HOW insurance. Regardless, if you have to engage another builder it will cost a lot more: Money left under the contract+ rectification of defects+ surcharge 50-100% It is very important not to overpay your builder. You can save hundreds by DIY but may drop tens on thousands, perhaps hundreds of thousands instead Foremost Building Expert in Australia,assisting with building problems/disputes, building stage inspections,pre-contract review advice for peace of mind 200 blogs http://www.buildingexpert.net.au/blog Re: contract provision 3Dec 16, 2019 1:13 am thanks for confirming my fear that by changing builders, in the event of insolvency, builder breach or licence suspension, my total cost are likely to to escalate, but I didn't expect it to increase by 50% to 100%. I am building in Brisbane. I understand that QBCC provides the homebuilders insurance cover and base on the product brochure that I read, the cover is only up to $200,000 or $300,000 if I top up premium. Most builders I talked to, claim QBCC insurance would be able to cover me fully. But with total contract price of $670,000, QBCC cover would not be enough to cover me should my cost increase by 50% to 100%. So how can I cover myself against such loss in Brisbane? Re: contract provision 4Dec 16, 2019 6:22 am If you read my previous answer carefully, you have your answer. Foremost Building Expert in Australia,assisting with building problems/disputes, building stage inspections,pre-contract review advice for peace of mind 200 blogs http://www.buildingexpert.net.au/blog Building Standards; Getting It Right! Hi All, We have a fall from road to garage front. But we cannot put a drain/grate because no discharge point put by the builder. Now they complain not enough space for… 0 9299 You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16690 It seems very clear to me that your contract states that a security account does NOT need to be established so the answer to the builder is NO. If in doubt find a contract… 1 8585 |