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Guarantee Protection Indemnity Ltd Underwritten Guarantees for the Building Industry
As a prudent property owner or specifier you need to be assured that the guarantee offered by a remedial contractor covers not only the quality of materials used but also the workmanship and is issued along with an independent long term back up guarantee for continuing protection should the contractor cease to trade.
Guarantee Protection Indemnity Ltd is a dedicated independent company that issues such guarantees and thereby gives you long term peace of mind.
We offer independent guarantees for the following types of work:
• Damp proofing
• Wood Preservative Treatments
• Basement Waterproofing and Water management systems.
• Replacement Wall Ties
• Structural Repairs, extensions, loft conversions and building projects including double gazing and conservatories.
• Timber Resins
• External Coatings
Lost your Guarantee? Contractor gone into liquidation? Need a guarantee for a house sale? Contractor unable to provide a Guarantee?
We can help provide a Guarantee in these situations simply complete this form.
Why the Guarantee Protection Indemnity Ltd Scheme?
The fundamental strength of a Guarantee Protection Indemnity Ltd guarantee is that it is issued entirely independently of the Chemical Manufacturing Company and does not rely on renewal premiums having to be paid to insurance/underwriting companies for continued cover.
Guarantee Protection Indemnity Ltd is financed by a group of venture businessman who have injected substantial funds into the company to take on any quantum of guarantee liability. Guarantee Protection Indemnity Ltd is the leading provider of Remedial Guarantees in the UK
What is covered
The guarantee provides cover on the property not the owner. If you decide to sell your property, the guarantee is transferred for a small fee to the new owner.
Guarantee Protection Indemnity Limited Guarantee Terms and Conditions
Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing Indemnity is underwritten by Guarantee Protection Indemnity Limited (“GPI Ltd”).
This document provides only a summary of the main benefits available under the Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing indemnity and the Policy terms and conditions.
If the Contractor has ceased to trade and is unable to discharge their obligations under the Long-term Guarantee. These remedial works will specifically relate to:
1. commencement, continuance or recurrence of Infestation in any of the timbers treated against Infestation or re-Infestation in the Insured Works; or
2. recurrence of Rising Damp in any of the walls in which the installation of chemical or physical damp-proof course or approved electro-osmotic system for the cure or prevention of such damp was provided; or
3. failure of a Remedial Wall Tie or Lateral Restraint installation; or
4. breakdown of an External Water Repellent membrane; or
5. breakdown of the Structural Waterproofing works guarantee. The Period of Indemnity is thirty years from the Commencement Date or such shorter periods as stated in the Contractor’s Long Term Guarantee.
Indemnity Conditions:
1. In the event that the property is sold assignment of the Policy to the new owner is necessary and at a cost of 5% of the original contract value
2. Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing indemnity can only be claimed upon when the Contractor has ceased to trade.
3. If the Contractor is still trading then any claim under the Contractor’s Long Term Guarantee must be made to the Contractor.
4. Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing Insurance only covers work which is covered by the Contractor’s Long Term Guarantee. Any loss or damage, such as re-plastering, relating to works not covered by the Long Term Guarantee will not be covered by the guarantee Policy.
5. Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing indemnity only covers work carried out by the Contractor. For example if the floor and roof joists need woodworm treatment but only the roof is treated by the Contractor, the floor will not be guaranteed.
6. You must pay a Claim Survey Fee when making a claim. This is £280.
7. In the event of a valid claim, the amount of the Claim Survey Fee will be returned to You.
8. The maximum sum payable by Us under Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing Insurance is the original Contract Price shown in the Schedule.
9. Whilst Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing indemnity will pay for appropriate remedial works it will not meet the cost of any loss that is suffered that is not specifically related to these costs and any other costs that are indirectly caused by the event which led to a claim, unless specifically stated in the Policy. For example; damages to furniture or equipment, loss of profits, interest, business or goodwill, the costs and expenses of any redecoration, repainting or retiling work, the costs and expenses of removing and/or replacing any cupboards, carpets or other furniture, or any other fixtures or fittings, will not be covered.
10. Defects resulting from structural alterations to the property in which the Indemnified Works are located will not be covered by Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing Indemnity guarantees. Remedial Work undertaken by You or a firm instructed by You, which have not been agreed by Us, will not be covered by Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing Indemnity.
Make An application for a Guarantee Protection Indemnity Ltd Guarantee
Requesting a survey is a simple process, call us free on 0207 118 0039 or request by Clicking Here
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