Ask a Tradesman
Damp Proofing Question
Company in liquidation who provided gaurentee
What is the way forward when the company who provided the Gaurentee for timber treatment has gone into liquidation. Work was completed in 2002. Can the work be reinspected and verification provided by another contractor for proof for the vendors/solicitors.
I would see if the company was/is a member of the Property Care Association who are the govering body of the remedial treatments industry. www.property-care.org If they are - I would seek advice through them. Generally, if a company goes into liquidation then the guarantee becomes null and void UNLESS you paid for an insurance policy (sometimes called an insurance backed guarantee) to run along side the guarantee from a company such as GPI Limited or CGS Limited. This policy covers your work if the contractor goes out of business. A new contractor would not provide a guarantee for works they have not carried out. However, you could speak to a CSRT qualified surveyor to see if they could inspect the works and write a report on the findings. This may be acceptable - Kind Regards
Answered 27th Feb 2012
If a trader has gone into liquidation/bankrupt or ceased trading then your company guarantee is worthless as its only worth the wording wrote on it while the company are in business.
If you have a Insurance backed guarantee this may be worthless unless the annual payments are met.
But if you payed a one off payment as in a "Insured guarantee"! You will have cover for the term you paid for, maybe 20 years!
I use Insured guarantees ltd and CGS ltd and they offer upto 30 years for a one off fee, GPI are another guarantee company offering the same.
Answered 5th Mar 2012