NSW Defect Bond Scheme is Beset with Problems | Owners Corporation Network

NSW Defect Bond Scheme is Beset with Problems

Many agree that the concept of developer bonds is sound. Certainly, it is better than the previous situation which afforded apartment owners little if any protection. Nonetheless, concerns about the scheme are growing. Banjo Stanton, Principal of Stanton Lawyers says “One cannot reasonably expert that a builder, who did defective work in the first place and is not a specialist remedial builder, or an independent consultant with extensive defect consulting experience, is able to identify and execute proper repairs without the guidance of a scope of works from a suitably qualified independent inspector,”.
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