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Whether you are an owner or a builder or supplier, BUILDSAFE can help you keep your money safe. Homeowners who are doing any building workFor owners you are able to pay the "deposit" that is normally paid to the builder or supplier into the BUILDSAFE trust account at the ASB (which is also managed by an independent party, Perpetual Trust so that we cannot touch the money without their agreement). We then hold that money until the work is properly completed. During the work, you carry on as normal paying invoices as you get them from the builder - although you are not alone - the BuildSafe Team is happy to talk with you at any time if you have questions about the process. Builders or SuppliersWe know that builders often struggle to get paid the final payment on a job and this means that you do not make any real profit on a job. Through the BuildSafe Service, there is an amount of money held by BUILDSAFE which is available to pay you what you are entitled to under the contract once the work is finished. To get paid that money, all you need to do is give the owner a Notice of Practical Completion and, if they agree that the works are practically complete, we pay the money held in trust to you. There is no delay and no chasing payment from an owner who does not want to pay you. Our service does not stop at payments - our experienced construction lawyer is available to help you with any questions you may have about how to get paid and how to reduce your risks going forward. The Cost of Using BuildSafeThere is a small cost to use the BuildSafe Service - but it is nothing compared to the cost of seeing a lawyer when things go wrong. The cost depends on the size of the project you are doing - if its a small renovation budgeted at less than $10,000, the fee is only $50 per party. But if you are smart and use BuildSafe to protect your money when you are building a whole new house worth $500,000, it would cost each party $235. You can find out more about the cost of using BUILDSAFE SECURITY here Use our calculator to find out what it would cost you to use BuildSafe
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