New Home Building Contract

OWNER’S MASTER BUILD GUARANTEE INFORMATION

PART 1 – BUILDING CONTRACT AGREEMENT 1

PART 2 – BUILDING CONTRACT DETAILS 5

PART 3 – STAGED PAYMENTS SCHEDULE 8

PART 4 – PROGRESS PAYMENTS SCHEDULE 10

PART 5 – CHARGE-UP SCHEDULE 12

PART 6 – GENERAL CLAUSES OF CONTRACT

INTERPRETATION
Definitions
General

UNDERLYING OBLIGATIONS
Parties’ obligations
Possession of the Site
RMB’s warranties
Statutory compliance
Persons carrying out or supervising the Works
Owner’s title
Health and Safety
Failure by the Owner to meet their obligations

CONTRACT PRICE & PAYMENT
Contract Price
Owner’s undertaking as to finance
Contract Deposit
Valuation of Adjustments
Margins
Payment Procedure
No set-off
Suspension of Works for non-payment
Default interest
Prime Cost Sums
Provisional Sums
Cost fluctuations

THE WORKS
Drawings and Specifications
Building and resource consents
Code Compliance Certificate
Care of the Works
Materials on site
Sub-contractors
Owner’s work or materials

THE SITE
Survey pegs & Site Boundaries
Utilities
Unforeseen physical conditions
Land subsidence and inadequate earthfill
Site and Works to be kept clean and tidy

VARIATIONS
The Works are subject to variation
Variations requested by the Owner
Variations for additional works or items reasonably required to complete the Works
Variations required by a territorial authority
Variations arising from Prime Cost Sums
Variations arising from Provisional Sums
Variations because of unprocurable materials
Variation because of unforeseen physical conditions
Variation because of land subsidence and inadequate earthfill
Processing of variations

TIME
Time for completion
Extension of time
Costs arising from delay

INSURANCE
Insurance to be obtained by the RMB
Proof of insurance

POST CONSTRUCTION
Notice of Practical Completion
Possession by Owner
Defects warranty period

DEFAULT
Default by the Owner
Default by the RMB
Repossession of goods or materials
Memorandum of mortgage
Costs of recovery of any amount due and payable by the Owner under the Building Contract
Preservation of rights following termination

DISPUTE RESOLUTION
Negotiation
Mediation
Adjudication
Arbitration
Litigation

MISCELLANEOUS
Jurisdiction
Notices
Privacy

PART 7 – AMENDED AND ADDITIONAL CLAUSES

PART 8 – PERSONAL GUARANTEE OF DIRECTORS