Image Home Search Displaying 221 - 230 of 1008 Who pays home warranty and when Contractors must take out home warranty insurance on the owner's behalf before starting on any insurable residential construction work where the value of work is more than $3,300. What work requires a policy Contractors must take out home warranty … Change, cancel or amend cover There are limited scenarios in which you can change, cancel or amend home warranty cover. Within certain conditions home warranty cover can be: changed : to correct errors of fact to increase or decrease the value of the project, if an error was … Maximum home warranty entitlements Maximum home warranty entitlements vary depending on the type of claim you are making. In general terms, the most we can pay under the Queensland Home Warranty Scheme depends on whether the work is completed or not. Before the work is complete For … Who pays the premium The contractor pays the premium, which is based on the insurable value of the work, while the homeowner pays for any additional cover. Contractor pays the premium The licensed contractor you contract to do the work (often called the principal … Financial information If you are applying for a contractor-type licence in most classes you need to demonstrate that you have a financially sustainable business with an appropriate level of working capital. This is known as minimum financial requirements (MFR). How to … What is home warranty insurance Home warranty insurance is a premium your contractor pays us to insure residential construction work for fixed-price and cost-plus residential contracts. When you embark on a building or renovation project, your contractor pays a premium to us to … Change your licence type From time to time, your role in the industry may change. You may find that you prefer, or are required, to now hold a different type of licence in your existing class. On this page Apply and surrender process We provide you the option to do … Surrender your licence If you no longer wish to maintain a licence you can surrender it. If you hold more than one licence class, you may choose to surrender some licence classes only. How to surrender your licence Surrender licence form (PDF 1011.83KB) PSI surrender … Continuing professional development The building and construction industry is always changing, and to stay ahead, you need to keep up with the legislative changes, trends and standards. Continuing Professional Development (CPD) is designed to support and equip industry professionals … MFR and annual reporting Annual financial reporting is a once-a-year submission to the QBCC to demonstrate you continue to meet your minimum financial requirements (MFR). The requirement to provide annual financial reporting, only applies to: company’s who hold a contractor … Load More