When Can a Claim be Made?
Disappearance or death, during the contract period. A claim may also be made for defects that come to light after completion of the project in the Statutory Warranty period if the builder has died, disappeared or suffered an insolvency event.
The Building Act 2004 requires that a Fidelity Fund certificate provides for a maximum cover of $85,000.
A Fidelity Fund certificate requires the provider to be informed within 90 days of you becoming aware of the defect.
A Fidelity Fund certificate is successive in title and remains valid for a period of five years after completion (or occupation) of the project in the event the residence is sold within this time.