HOW DOES BUILDSAFE WORK FOR SUBCONTRACTORS?
Subcontractors or specialist trade contractors are also at risk of not being paid for the work they have done or materials they have supplied such as windows or plastering.
BuildSafe wants to help all Subcontractors and suppliers who are working on building projects for home Owners and/or Main Contractors.
As a Subcontractor, you have the right to protect yourself and your business by using the BuildSafe Security of Payment Scheme and you should insist on exercising that right in the face of any Main Contractor or Home Owner opposition. You have the right to ensure that security for future payments is held by a fair, independent, and neutral third party with no financial interest in, or liability for, the subcontract works. We can provide you that service by operating an escrow service where the Security Amount (Deposit) is held in a dedicated trust account for your job only, and to be released when the project reaches practical completion. We are most happy to speak with any Main Contractors or potential clients that may be unfamiliar with the service we offer and can explain to them the benefits for all parties in using BuildSafe and can provide you with brochures and information to include with your quotes and/or when meeting with Main Contractors or potential clients.
You must use formal conditions of contract to record the bargain you have made with anyone that you contract with. You must ensure that there is proper and adequate insurance cover to protect you from loss in the event of an accident or disaster occurring, and should a dispute occur, you are entitled to have that dispute resolved fairly, promptly and cost effectively. We can help you with both of these things as we provide fair formal conditions of contract which are available free of charge when you are using the BuildSafe service on your project (for more info on our Contracts click here) and we can advise you with regards to insurance requirements.
To use BuildSafe, Subcontractors simply need to complete the BuildSafe Application Form. The requirement to use BuildSafe can be incorporated as part of your terms of trade.
In addition, we ask any Contractor who is using the Scheme to invite any Subcontractors to register and we obviously recommend that you accept this invitation and register as a user of BuildSafe so that you have some protection if the builder does not pay.
THE PROCESS FOR SUBCONTRACTORS
Once a Subcontractor or Specialist Trade Contractor has been invited to use the BuildSafe Security of Payment Scheme or registered their interest and has completed the Application Form, BuildSafe will issue a conditional Notice of Acceptance confirming the Registration of the Subcontractor subject to receipt of payment of the relevant fee.
BuildSafe will then confirm registration of the Subcontractor and will advise the Owner and the Contractor immediately upon a Subcontractor’s participation in the Scheme becoming effective.
So please, be smart and let us help you
BuildSafe
contact us at info@buildsafe.co.nz
About UsAt BuildSafe we are driven to be the most recognised and respected provider of a specialist security of payment service for the building and construction industry in New Zealand. This is because we believe that all home owners and builders who are doing building or renovation work deserve to have access to the very best information and services to protect themselves and to ensure that the building process is a positive experience. Find Out More |
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