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Home Owners Warranty
Up until recent years, consumers had little protection against poor workmanship or builder insolvency during the construction of new residential buildings or building renovations.

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  HOW Concept (175KB)
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Legislation was introduced by the Government to put safeguards in place for the consumer and thus the Home Owners Warranty concept was developed.

Insurance companies provided the necessary insurance cover and the consumer had 'peace of mind' in knowing they were protected. However, in order for a builder to qualify for HOW with the insurance companies they are required to have an asset base (usually personal guarantee, your home or bank guarantee) as security.

This has the potential of severely affecting the ability of a builder to operate, especially if they have limited assets or want to qualify for multiple projects.

The ABS System will provide an alternative to the builder that eliminates those constraints.

Discover more about ABS - Home Owners Warranty

 
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