Browse Forums Building A New House Re: Deterring progressive payment untill all faults are fixed 2Nov 14, 2007 5:47 pm Internal and External Building and Colour Consultant Online - Worldwide http://www.denovoconcepts.com Re: Deterring progressive payment untill all faults are fixed 4Nov 14, 2007 9:02 pm You can be witrhin your right to withold payment, as can your bank. If there are major issues that are not rectified and the bank is not happy, they will not release payment. Adrian B Re: Deterring progressive payment untill all faults are fixed 5Nov 14, 2007 9:15 pm I think you mean defer? Re: Deterring progressive payment untill all faults are fixed 6Nov 14, 2007 9:22 pm parker I think you mean defer? Or substitute 'with-hold' Note: You are asking folk what may actually be a LEGAL question. Perhaps you should seek LEGAL ADVICE before proceeding. Not trying to DETER you! Good luck with it! Ash. Re: Deterring progressive payment untill all faults are fixed 7Nov 14, 2007 9:40 pm The banks can with hold payment until the stage meets specifications. You need to remember that banks need to make sure that they can get their money back if needed. Theefore they have a vrested interest in ensuring that the house is correctly built. Our friend's bank withheld payment for final stage as the aluminium alfresco doors ordered were delayed, and temporary slidng doors were put in place. . It wasnt until the bank had a letter of undertaking from the builder that they released funds. Adrian B Thank you so much everyone. This all makes a lot of sense. I guess when you talk to a builder who butters up everything to look very polished, you get to start believing… 7 17518 So AFAIk the outcomes of the BAL ratings form part of a clause that allows them to pass these costs on to you. However the more relevant detail is how did it go from 19… 1 9142 regardless, your contract stipulates a payments schedule and SOPA doesn't give provision to that scenario. Your contractual terms appear to stand. Hence get a lawyer, it… 4 11850 |