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Simple, smart, and secure solutions for Kiwis.

Project Protect NZ

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What is Project Protect NZ?

Project Protect NZ provides peace of mind for homeowners and other contract principals by protecting them against contractor defaults.

Here’s how we’ve got you covered:

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Job Completion Guarantee: If your contractor cannot complete the job for any reason, our guarantee steps in. This ensures:
✓ Your deposit is protected.
✓ The work will be finished without leaving you stranded.

Claims Support: Our team handles the entire claims process, so you don’t have to worry about the details.

Finding a Replacement: If your contractor can’t continue, we’ll help find a suitable replacement to complete the project.

 

More information

Explore our client case studies and FAQs below.

If you have any additional questions, feel free to get in touch with us at tp@bonded.co.nz or call 09 524 2100.

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Case study: John & Mary's Dream Home Journey

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John and Mary own a freehold home in Hamilton and decide to sell it to build their dream home in a nearby subdivision. After speaking with a few local builders, they sign a $700k contract with one they feel confident about. They also secure a Project Protect NZ Guarantee for 10% of the contract value.

The project is supposed to take 6 months, but after 3 months, John and Mary notice very little progress. The builder blames delays with the council and suppliers, and shortly after, the company goes into liquidation.

Thanks to Project Protect NZ, John and Mary receive a cash payment of $70,000 right away to help them find a new builder and finish their dream home.

Case study: Mike & Jane's Pool Project

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Mike and Jane live in Tauranga with their two young kids and have a lot of friends and family. Wanting to create a fun space for everyone, they decide to build a swimming pool in their large backyard. They secure a $250k quote from a local pool specialist, including landscaping and decking, and the project is set to take 3 months.

However, 6 weeks into the job, 3 key team members from the pool company leave. The company then informs Mike and Jane that the project will take at least 9 more months to finish.

Thanks to Project Protect NZ, Mike and Jane receive a $25,000 cash payment immediately to help them find a new pool company and cover any extra costs.

Frequently asked questions

  • What security does the contractor need to provide?

    Typically, the contractor needs to provide an indemnity from all group companies and a personal guarantee from the owners of the contracting business.

  • What information is required to apply?

    To apply, the following information is required:

    • Financial details from both the contractor and the owners.

    • Documentation showcasing the contractor's experience with similar work.

    • Contract documents for the project being completed.

  • Who will benefit from using this product?

    Project Protect NZ provides certainty to anyone engaging a contractor for a major project. This includes:

    • House construction and renovation.

    • Supply of tiny or modular homes.

    • Civil works and site preparation.

    • Landscaping.

    • Swimming pool construction.

    Speak to us today to find out how Project Protect NZ can help ensure your contract is completed to a satisfactory standard.

  • Can the Principal apply for a Project Protect NZ Guarantee?

    No, unfortunately, we must work directly with the contractor to gather the necessary information to establish a Project Protect NZ Guarantee. However, we can connect you with a quality contractor to help with your project.

  • What level of protection does a Project Protect NZ Guarantee provide?

    Our guarantees cover 10% of the contract value, up to a maximum of $100,000.

  • When is the Project Protect NZ guarantee released?

    The guarantee is released upon practical completion of the project, issuance of the Council Code of Compliance, or when the project is handed back to the Principal for its intended use—whichever occurs first.

  • Who should I contact if I need to claim my Project Protect NZ Guarantee funds?

    If you need to make a claim, contact the Project Protect NZ team as soon as possible to initiate the claim process.

Do you have any questions? Get in touch with us.

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