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Our owners corporation is undertaking a refurbishment of our lift – the project budget is $150k.
The contract being used is the NSW Fair Trading Building over $20k contract – unaltered except the requirement on the contractor to provide HBCF insurance has been deleted. The contract has been signed by both the contractor and the owners corporation.
My question is – Can the parties to a building contract in excess of $20k in NSW agree to waive the requirement for HBCF insurance?
Thanks
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If the building is more than three storeys high there is no requirement to provide Home Building Fund Insurance.
And yes, it is crazy.
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@mac said:
I understand the 3 storey rule only applies to new developments not renovations – according to the Fair Trading web site
Well, there you go. I always understood the opposite but I will bow to Fair Trading’s superior knowledge.
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