Tools theft is rife around the country at the moment and if it hasn’t happened to you yet you’ve probably at least heard of it happening to someone you know. We’re urging all tradies to take extra precautions when on site and to ensure your tools are securely locked away, ideally out of sight from the road at night.
New rules for protecting retention money came into effect on the 31st of March 2017. These require developers and head contractors to hold “on trust” any retention money they’ve withheld from their subcontractors. This on trust obligation, which applies to all...
Construction (contract works) insurance is a contractual requirement for most building projects. Here are some of the most important things to be aware of when it comes to contract works insurance.
As with any contract of insurance, the devil is in the detail and it’s important you read and understand the terms & conditions contained within it. Below are three things you may not be aware of that could affect your cover. Cessation of Work Most policies...
Running any kind of business involves a certain degree of risk, and building trades are no exception. Indeed, tradies face additional responsibilities placed on them by the Building Act, such as disclosure requirements, mandatory contract terms and implied warranties....
Attacks on small business have skyrocketed in the last 12 months, as hackers target poorly protected systems for ransom.
From the 31st of March 2017 retention money withheld by a principal or contractor must be held “on trust” until being released to the subcontractor. Retention bonds offer many benefits for principals, contractors & subcontractors, including improved cashflow and no onerous “on trust” obligations.
A number of issues with contract works insurance arose following the Christchurch earthquakes. These are worth highlighting again now.
Whose responsibility it is to arrange construction insurance depends on a number of factors. This 1 minute video and short blog explain it simply.
The Building Act imposes a number of “implied warranty” obligations on builders. This means builders automatically provide these warranties to their clients when doing any residential building work.
Who is your business’ most important person? What would happen to your business if that person were unable to work for a period of time? Small & medium-sized businesses, like the majority of Kiwi building firms, generally have one or two people that they depend on...
Builtin’s liability insurance video is aimed at builders and trade professionals. It discusses liability and liability insurance in the building sector. The full webinar is 28 minutes long.
