Article 12 of the law of 9 July 1971 regulating the construction and sale of housing to be constructed or that is undergoing construction (called the « Breyne Act ») governs contractual relationships between the project managers and the contractors for certain works and provides for an obligatory security bond system of 100% for approved contractors so that the works are fully completed.
EuroCaution proposes an innovative and flexible Breyne Act guarantee offer for promoters and contractors.
The advantages of our offer:
- Guarantee issued by an insurer rated A- by AM Best.
- No impact on your lines of bank credit
- Guaranteed best rate (with equivalent conditions and rating).
- Flat-rate pricing possible depending on the duration of your project
- Option to take up a substantial line of credit to secure multiple projects
- Prompt decision taking in acception your dossier
- Simple administration: automatic invoicing, securities issured within 24 hours, option to automate the process through IT integration.
- Simplified release of guarantees
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Why does EuroCaution recommend that non-approved contractors offer their clients 100% guarantees instead of 5%?
You offer better protection to your clients, guaranteeing them that their house or apartment will be completed for the agreed price, no matter what happens.
The guarantee will be released on provision acceptance, so you no longer have to wait for a final release document signed by the buyer, which often takes time.
You avoid having to pay for a bond if the final release is not signed by the buyer.