Corporation’s first $10M
PA Wellington The Building Performance Guarantee Corporation has insured its first SIOM worth of new homes against builder bankruptcy, poor workmanship, or the use of defective materials. Since It came into being on April 1 this year, the corporation has issued indemnities for 445 new homes, for a total of 510.6 M. The corporation’s executive director (Mr I. Carrie) said yesterday that he was encouraged by the fact that the number of indemnities issued had virtually doubled every month of the first three months the scheme had been running. Mr Carrie expected the trend to continue as the scheme became more widely known and accepted automatically as part of the legal process of building a new home.
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Press, 26 July 1978, Page 2
Word Count
120Corporation’s first $10M Press, 26 July 1978, Page 2
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