What is a completion guarantee?

Only the French version is legally valid.

Completion guarantee : To pay, in the event of the Insured's Default, the sums necessary for the Completion of the Building in accordance with the Contract Documents

The following are excluded :

• expenses necessary for the maintenance, preservation or management of the Building, or expenses made necessary as a result of the action of third parties or an event of force majeure;
• increases in the cost of the works resulting from changes to the plans, specifications or other technical documents which have not been approved by the Guarantor; 
• any interest, penalties or other compensation for delays which may be due from the Insured;
• any compensation or guarantees for defects, non-conformity or faulty workmanship which may be due from the Insured;
• any additional damage suffered by you (disturbance of use, loss of rent, rent paid during the work, etc.).