The British Structural Waterproofing Association

 

 

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Insurance Backed Guarantees for Structural Waterproofing
               
Contractors will normally provide a guarantee for their structural waterproofing work to cover a period of ten years.  In addition, many of our members offer insurance backing for their guarantees.    
               
Due to our high standards of membership, BSWA members are eligible for membership of the industry standard construction guarantee scheme which issues insurance backed guarantees for structural waterproofing.     
               
               
What is the CGS Insurance Backed Guarantee scheme?      
               
Even the most established contractors can be forced into liquidation for reasons beyond their control. The scheme protects the client against the contractor being unable to meet his obligations under his guarantee by ceasing to trade due to bankruptcy, liquidation or the winding up of the business on the retirement or death of the principal(s). The contractor's guarantee can be protected through an independent insurer so that in these circumstances the insurance backed guarantee will take over the liability for the contractor's guarantee for the remainder of the period covered.    
               
     
Is it independent?    
               
Yes, the CGS scheme is independent of any individual contractor, manufacturer or trade association, including the BSWA itself. Construction Guarantee Services Ltd (CGS) provides insurance backing for guarantees issued by the building, preservation and restoration industry and only manages guarantees in this niche market.     
               
A Certificate of Guarantee is issued naming the property, and remains valid with no requirement to register change of ownership in the future.    
               
Should the work the contractor is undertaking include rising damp, replacement wall ties or treatment for woodworm, wet rot or dry rot, these can be included in the guarantee.    
               
               
               
             

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