Guarantees, Guarantee Protection and Work-in-Progress Insurance

We issue company guarantees on some of the work that we do. Some of these guarantees can also be supported by GPI insurance backed guarantees. Also, through the TrustMark scheme, we are able to offer homeowners deposit (where this is taken) and work-in-progress (WIP) insurance.

TrustMark insurance for deposits and WIP must be taken out prior to the start of the works. On completion of the work and full payment of the account, our 20 year written guarantees will be issued for damp-proof courses, timber treatment and replacement wall ties. Our guarantees for structural water-proofing/dry lining works are for 10 years. Guarantees are offered only for work that we carry out. We do not guarantee work that we have not undertaken ourselves.

Guarantees for Damp-proofing, Timber treatment and Wall Ties

As members of the Property Care Association (PCA), we are able to offer Guarantee Protection Insurance (GPI) insurance backed cover to support our own damp-proof courses, timber treatment and wall tie guarantees. This insurance cover provides additional protection to the client should this company cease trading for any reason. The optional GPI cover is available for a once off charge, including 5% insurance premium tax, each for damp proofing or timber treatments or wall tie work. No VAT is chargeable on this insurance payment. Charges are variable depending on the value of the work to be covered. The GPI insurance policy is issued after payment of our account and directly from the GPI. The charges apply for each house, flat, office, shop or other unit.

Guarantees for Structural Water-proofing

As members of the PCA Structural Water-proofing Group, we are able to offer GPI backed cover to support our own structural waterproofing guarantees. This insurance cover provides additional protection to the client should this company cease trading for any reason. This optional cover is available for a charge of 6% of the contract value (including VAT) per dwelling (e.g. a flat, an house), plus 5% insurance premium tax (IPT). The minimum charge is £110.00 including IPT. The GPI policy is issued after payment of our account and directly from the GPI.

Deposit and Work-in-Progress Insurance

Yorkshire Dampcourse and Wall Ties / Associated Preservation Systems (Catrake Ltd.) is a member of the TrustMark scheme. TrustMark is an initiative between government, consumer groups and industry designed to help people find reputable firms to do repair, maintenance and improvement work in the home.

TrustMark is based around a set of Government endorsed standards for trade associations, certification bodies and other organisations that wish to become approved scheme operators. Only approved scheme operators are allowed to award the TrustMark to registered firms. TrustMark publishes its standards for everyone to see. A copy of the Core Approval Criteria can be downloaded from the publications section of the TrustMark web site. 

When a firm displays the TrustMark logo it signifies that:-

• The Approved Scheme Operator has carried out basic checks on the firm's technical competence, trading record and creditworthiness (including on-site inspections)
• The firm has signed up to an appropriate code of practice that includes mandatory insurance (e.g. employers' liability and public liability insurance), good health and safety practices and proper dealing with customers
• Its quality of work, trading practices and customer satisfaction are checked and monitored at regular intervals by the Approved Scheme Operator
• The firm will make sure the customer is made aware of any Building Regulations issues
• If the customer has a problem or disagreement with a registered firm, the Approved Scheme Operator will investigate where appropriate and try to resolve the issue
• And if the firm does not provide insurance cover automatically, the customer has the option to buy a warranty covering the possibility of the firm going out of business
• Firms will be vetted and monitored against recognised British, international or industry standards. In other words, the firm's standard of workmanship should be what is generally considered good practice.

As a member of the TrustMark scheme we are required to offer insurance to private domestic clients to protect:-

• Deposits (only if taken)
• Work-in-progress (WIP)
• Guarantees

The offer of insurance is a requirement for any job over £250 including VAT, up to £50,000 including VAT (but excludes the cost of any installed equipment covered by a manufacturer’s warranty). Lower and higher value contracts may be covered by special arrangement.

The charges for deposit, WIP and  guarantee insurance are shown as optional and separate items in the quotations we issue.

All of the above are provided as an addition to the statutory rights conveyed in law.

All insurance policies and guarantees have conditions and these need to be carefully read and understood by our clients. Specimen policies and guarantees are available from our office on request.

Appointed Representatives must :- 

1). Maintain appropriate records to show that it has complied with the rules on training and competence. Quotes for insurance backed guarantees must include the Policy Summary and the Statutory Declarations detailed below.

2). Staff who handle client money must understand the requirements of the FSA's client money rules.

3). The GPI must review accounts and have (together with GPI's external auditors and the FSA) full access to the AR's staff, records and premises if required,

 4). Disclose its fees (e.g. administration charges) in its quotes separately from GPI's premium and I PT.

Status Disclosure - Catrake Ltd. is an Appointed Representative of Guarantee Protection Insurance Ltd which is authorised and regulated by the Financial Services Authority.

Demands and Needs Statement relating to the offered Insurance - The GPI insurance backed guarantee is the only insurance product of its type currently available. It meets the demands and needs of those who wish to ensure that the guarantee provided by a contractor who has treated wood boring beetle, dry rot, wet rot, rising damp, or has provided replacement wall ties, lateral restraints or structural waterproofing is fully secured.

Should you have any queries on the above or any complaint against Catrake Ltd as an Appointed Representative regarding the Insurance, please contact Guarantee Protection Insurance Ltd, 106 Coppergate House, 16 Brune Street, London E1 7NJ

 Email : - info@gptprotection.co.uk. Web site:- www.gptprotection.co.uk

DISCLAIMER : These web pages are for information, help and guidance only, and are not intended to provide exhaustive technical descriptions of any of the subjects covered. They do not form part of any contract. Catrake Limited can not accept liability for the consequences of anyone acting on the information given here. For clarification of any of the contents contact us.

© Catrake Limited, 2000-2008