Hi all,
I am coming across a builder who has 2 licenses - 1 for himself and 1 for his company (where he is the director).
1. License for himself is "ONLY FOR CONTRACTS NOT REQUIRING INSURANCE UNDER THE HOME BUILDING COMPENSATION FUND"
2. License for his company has not such restriction.
Yes he can provide insurance certificate for the PCA.
What's the implication of this? Anything I should be worried about? My build is over $20k
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Browse Forums General Discussion Re: [NSW[ Home building Compensation Fund (Insurance) 2May 23, 2021 7:45 pm  world2160Hi all, I am coming across a builder who has 2 licenses - 1 for himself and 1 for his company (where he is the director). 1. License for himself is "ONLY FOR CONTRACTS NOT REQUIRING INSURANCE UNDER THE HOME BUILDING COMPENSATION FUND" 2. License for his company has not such restriction. Yes he can provide insurance certificate for the PCA. What's the implication of this? Anything I should be worried about? My build is over $20k This is very normal, its because the business goes through the assessment process with ICARE not the licensed builder. the main thing is that you get the certificate, if he has that you are all good and can sleep at night  Simeon McGovern Affordable Custom Homes, We design and build to your budget Ashington Homes www.ashingtonhomes.com.au  08 Apr 2009 59 Loyal Member Re: [NSW[ Home building Compensation Fund (Insurance) 3Jan 26, 2022 8:40 am Main thing is that you contract with the company and receive the insurance certificate in the name of the company. No other variation will protect you ie contract in personal name but insurance in company name or vice versa. Hi Suku18 In NSW the statutory required insurances are: 1. HBCF ( Home Building Compensation Fund) - This is if the builder dies or goes broke. But this only covers 20%… 1 20159  having built on acres several times i suggest that you also need to add the cost of a sewerage system and any associated fencing, water tanks with associated extra… 2 16947 Unless the builder was working as a sole trader, then you don't have the option to chase the builder 1 677  |
