CONTRACT Questions

I’m going to have to seek legal advice on the matters below. In the mean time I wondered if anyone else is familiar with these subjects.

I am sharing the build with a builder. I am also financing 70% of the build myself. And have just received the builder’s contract.

[1]
The builder has requested I provide a Guarantor (see image). Fifteen years ago when I last built a house the builder didn’t require this. Is this standard practice these days?

I cant imagine my bank wanting to indemnify the builder, nor had I factored in the need for a third party to go Guarantor. Do insurance companies typically provide a Guarantor service?

[2]
The builder wants the right to place a caveat over the property if I withhold a payment (see image). Which is reasonable if I’m in the wrong, but what if I’m in the right? Can they still place a caveat over the property?

[3]
The builder wants me to pay them if they go over their anticipated build period (see image).

If, hypothetically, bad weather takes the site out of action for say 4 weeks, I have to pay the builder a fee if they go over their anticipated build period.

If, hypothetically, the builder’s supplier runs out of stock and the build is delayed, I have to pay the builder a fee if they go over their anticipated build period.

"anything done or not done by the Owner"......

Is paying the builder if they go over their anticipated build period standard practice these days?


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