Terms, Conditions & Fees
Terms, Conditions, Fees & Our Secure GPI Building Guarantees
GPI Building Guarantees Providing professionalism, reassurance and support to the Damp Proofing & Building Industry
GPI Building Guarantees 0207 118 0039
A GPI brand structured to give peace of mind that the long-term guarantee offered by contractors ceased trading, or not, will always be honoured. Our protected GPI Guarantee department has been issuing guarantees for over 5 years. The company is financially secure.
The term of the GPI Guarantees range from 10 years to 30 years depending services guaranteed. Our Guarantees are Underwritten on an annual basis by London Underwriters. The policy has a yearly aggregate limit for claims of £5,000,000.
All GPI Guarantees are issued within 48 hours of receipt of funds and in all cases emailed.
Fees are as follows for non members, or members of the public, for a stand alone guarantee to secure a contractors Guarantee:
Contract value up to £2000.00 Total Fee £100.00 + VAT
Issued by Email within 48 hours of receipt of funds.
All other fees are 3% to 5% Plus VAT of the contract value depending on risk. Apply Here
GPI Stand alone Guarantees can be issued to any Homeowner who just wants protection against future Rising Damp. There must not be any pre-existing Rising Damp. The Policy fees are as follows for a 20 year term:
Terrace Property £200.00 + VAT
Semi Detached Property£2501.00 + VAT
Detached Property £400.00 + VAT
Our existing GPI Guarantees cover provides you, the client, with the security of knowing that in the case of a valid claim against recurrence of the original problem, or indeed the development of a new problem, and in the event of the guarantor ceasing trading for any reason or retiring, GPI Guarantees will undertake for the necessary re-treatment works (including re-plastering if applicable) to be carried out at no additional cost to the homeowner. The Guarantee remains valid irrespective of any notifiable transfers of ownership of the property within the unexpired period of cover of the guarantee. The 30 Year Protected GPI Guarantee is issued for a small one-off premium payment which varies between 3-5% of the contract value.
Application to GPI Guarantees is open to anyone from members of the public to commercial companies or contractors. All we need is the particulars of the works undertaken. And confirmation there is no existing fault or damage.
We can also provide new build GPI Guarantees.
We cover the entire UK including Northern Ireland.
If you run a company or contracting business you can apply to become a subscriber
As long as you apply for at least one guarantee a month.
This allows you to apply and issue indemnity guarantees at £60.00 + VAT each. There is no limit on the contract value. A structural water proofing back up guarantee for a £30,000 project would only cost £60.00 + VAT
The yearly fee to be a subscriber is £100.00 + VAT
Guarantee Protection Indemnity Limited Guarantee Terms and Conditions
Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing Indemnity is underwritten by Guarantee Protection Indemnity Limited (“GPI Ltd”) secured by London Underwriters.
This document provides only a summary of the main benefits available under the Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing indemnity and the Policy terms and conditions.
If the Contractor has ceased to trade and is unable to discharge their obligations under the Long-term Guarantee. These remedial works will specifically relate to:
1. Commencement, continuance or recurrence of Infestation in any of the timbers treated against Infestation or re-Infestation in the Insured Works; or
2. Recurrence of Rising Damp in any of the walls in which the installation of chemical or physical damp-proof course or approved electro-osmotic system for the cure or prevention of such damp was provided; or
3. Failure of a Remedial Wall Tie or Lateral Restraint installation; or
4. Breakdown of an External Water Repellent membrane; or
5. Breakdown of the Structural Waterproofing works guarantee. The Period of Indemnity is thirty years from the Commencement Date or such shorter periods as stated in the Contractor’s Long Term Guarantee.
Indemnity Conditions:
1. In the event that the property is sold assignment of the Policy to the new owner is necessary and at a cost of 5% of the original contract value or the claim limit on the Certificate.
2. Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing indemnity can only be claimed upon when the Contractor has ceased to trade unless you have a GPI Standalone Guarantee.
3. If the Contractor is still trading then any claim under the Contractor’s Long Term Guarantee must be made to the Contractor.
4. Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing Guarantees only covers work which is covered by the Contractor’s Long Term Guarantee. Any loss or damage, such as re-plastering, relating to works not covered by the Long Term Guarantee will not be covered by the guarantee Policy.
5. Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing indemnity only covers work carried out by the Contractor. For example if the floor and roof joists need woodworm treatment but only the roof is treated by the Contractor, the floor will not be guaranteed.
6. You must pay a Claim Survey Fee when making a claim. This is £380.00 + VAT
7. In the event of a valid claim, the amount of the Claim Survey Fee will be returned to You in full with no deductions.
8. The maximum sum payable by us under Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing Insurance is the original Contract Price shown in the Guarantee Schedule as a maximum Claim limit.
9. Whilst Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing indemnity will pay for appropriate remedial works it will not meet the cost of any loss that is suffered that is not specifically related to these costs and any other costs that are indirectly caused by the event which led to a claim, unless specifically stated in the Policy. For example; damages to furniture or equipment, loss of profits, interest, business or goodwill, the costs and expenses of any redecoration, repainting or retiling work, the costs and expenses of removing and/or replacing any cupboards, carpets or other furniture, or any other fixtures or fittings, will not be covered.
10. Defects resulting from structural alterations to the property in which the Indemnified Works are located will not be covered by Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing Indemnity guarantees. Remedial Work undertaken by You or a firm instructed by You, which have not been agreed by Us, will not be covered by Damp Proofing, Timber Treatment, Wall Tie, Lateral Restraint and Structural Waterproofing Indemnity.
We provide Secure GPI guarantees for:
• Conservatories and glazing.
• Waterproofing
• Damp and timber treatment
• Property renovations
• Loft and building extensions
• Basement conversions
• Basement water proofing
• Garage conversions
• Structural repairs including underpinning
The fundamental strength of our 30 Year GPI Protected Guarantee is that it is issued entirely independently of any manufacturing Company.
All Guarantees secured by London Underwriters.
