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A UNCMI contract provides
:
- a Seven Day Cooling off
Period (Faculté de
retractation), from the
date you receive your signed contract back from the
construction company and during which you can cancel
your contract without penalty.
- a Refund
guarantee (Garantie de
remboursement). If you are requested to pay a deposit
at the time of signing the construction contract.
This guarantee ensures the refund of your deposit if
you decide to cancel during the cooling off period or
if one of the suspensive
clauses in the contract is not met (failure to obtain
mortgage, planning permission, etc).
- A Price
and
Delivery
guarantee (Garantie de
livraison et d’achevement au prix convenu).
This ensures that the property is built and completed
according to the terms and conditions of the
contract, at the price and date agreed.
- A Perfect
Completion
guarantee (garantie de parfait
achevement). The
construction company is required by law to subscribe
to a building insurance which is valid for one year
from the date of delivery of the property. It covers
defects and snagging items discovered at the time of
the key handover. Also covered by this insurance are
any works not completed.
In case of financial failure or bankruptcy the
perfect completion guarantee is called upon.
- 10 Year structural guarantee.
- 2 Year guarantee on fixtures and fittings.
All guarantees are backed by insurance.
- Suspensive
clauses (conditions suspensives)
These are conditions written into the contract, with
a time scale attached to them, and under which a contract
can be cancelled with the refund of the deposit.
- Non purchase of the land
- Failure to obtain planning permission
- Failure to raise a mortgage
- Failure to obtain the building/structural
guarantees insurance
- Failure to obtain the delivery guarantee insurance
Building works insurance (Dommages-ouvrage)
This is compulsory insurance whilst building works
are ongoing. It is normally the responsibility of the
client to subscribe to it at an additional cost of
approximately 5% of the price of the house. However
construction companies often include it in the
overall project price for ease of administration.
This is confirmed at the time of signing the
construction contract.
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