Browse Forums Building A New House 1 Apr 04, 2009 2:58 pm The standard HIA contract has a penalty of $250 p/w as standard unless other wise stated. My contract is $250 p/w penalty 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: Penalty Clauses on Building Contracts- R they standard ? 2Apr 04, 2009 10:54 pm we are not happy with what was offered and have hit a bit of an issue and the NBG told it was 'not negotiable' when clearly it says it is.... from what other have said, no one really negotiates, though this is not really fair. What you need to calculate is this going to stuff up your budget? delays for not apparent reason do happen, and they are not that uncommon either. Seriously, whatever they want will not be 'fair' they are protecting themselves, not you. Anthea Re: Penalty Clauses on Building Contracts- R they standard ? 3Apr 04, 2009 11:04 pm Hi Desmondp, Our contract had the penalty as $200 per week... it took a lot of negotiation but we were able to get it to $250. However the builder just flatly refused to increase it further. I think its definitely worth a try to negotiate. we know if the house is delayed 250 woul not cover our osts ... but its better than 200. Land Settled 27/04/09. Site Started 30/4/09. Slab poured 21/5/09. Frame up 27/5/09. Building thread : viewtopic.php?f=31&t=15699 Re: Penalty Clauses on Building Contracts- R they standard ? 4Apr 05, 2009 10:14 am Liquidated damages should be for the same amount that the place you're building would rent out for. This is your damages. Demolition August 2009, Construction Started September 2009, Completed December 2010 Like I said the Occupancy Certificate is not the tollgate that marks the completion of the house. The contract defines… 7 10720 Industry type domestic contracts are prepared by industry bodies for the benefit of the builders. This means that if you are the owner watch out. One of the points is… 0 3225 MBA and HIA both have sub contract agreements, check them out 2 7314 |