What is a completion guarantee?

Modified on Tue, 17 Jan 2023 at 05:54 PM

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.).

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