The initial deposit for the Renovation project is protected up to a maximum of $50,000 in the event the deposit becomes legally refundable and cannot be recovered due to bankruptcy, default, insolvency or fraud on the part of the builder. Deposit coverage does not cover reimbursement because of a contractual dispute between the parties.
ONE YEAR WORKMANSHIP AND MATERIALS COVERAGE
All Registered Builders are required to warrant that the Renovation is constructed in accordance with the building standards prescribed by the National Building Code of Canada as amended by the Province of Saskatchewan, Saskatchewan New Home Warranty’s “Construction Performance Guidelines” and that the renovation is free from defects in workmanship and materials for a period of one year from the date of substantial completion.
TWO YEAR WATER PENETRATION AND STRUCTURAL DEFECTS COVERAGE
All Registered Builders warrant that the newly construction portions (if applicable) of the building envelope (roof, exterior cladding, windows and doors) and the newly constructed (if applicable) basement foundation walls will be free of exterior water penetration for two years from date of substantial completion.
All Registered Builders warrant any structural defect in the load bearing component of newly constructed portions of the Renovated home (as specified in the contract) for 2 years from and including the date of substantial completion.
*See Limited Home Renovation Warranty Certificate for additional details