Legal Liabilities, Service Contract, Guarantee and Insurance

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Our Liability Guarantee

We ask that our clients take time to read and understand this document clearly.

MACLENNAN-LSE is a division of LSE Building Preservation Ltd. Guarantees are issued in the name of the company not MACLENNAN-LSE

Most guarantees issued for waterproofing do not provide adequate if any cover for your protection in the event of a failure in waterproofing.

Company guarantees rely on the company continuing to trade and maintaining adequate insurance cover. Most do not have relevant insurance even the bigger companies cease to trade.

Manufacturer’s guarantees rely on proving defects in the materials and this is rarely if ever possible to prove. Manufacturers are just as likely to cease trading as contractors.

LSE offer company guarantees and they are underwritten by a third party insured guarantee so if the waterproofing installed by LSE should fail for any reason whatsoever it would be covered even in the unlikely event of LSE ceasing to trade. Our guarantees are accepted by NHBC AND ZURICH

With the Insurance Mediation Directive (IMD) in force from January 14^th 2005, implemented to stop people and companies misleading the public, those offering true insurance to the public must comply with the Directive and this has implications on how LSE Building Preservation Ltd, inform, deal with and protect their clients.

Appointed Representative

So, what are the benefits of using a company with an Appointed Representative Status?

Of the 2,500 purported specialist remedial companies in the UK, LSE Building Preservation is one of only 20 Appointed Representatives in the whole of the UK. LSE is, as stated, headed by an FSA Approved Person.

To meet the criteria for this, LSE Building Preservation’s accounts for the last three years have been examined and approved by an independent accountant employed by the GPI.

Ian MacLennan of LSE Building Preservation has been, together with its secretary and administration staff dealing with insurance, vetted by the FSA for any criminal activity and was found spotless. The company itself has also been vetted by the FSA for any improper activity and again given a clean bill of health.

What do you know about our competitors?

Insurance

LSE are one of the few companies who pay for Professional Indemnity for waterproofing. We are therefore insured for advice given and accept design liability.

LSE are one of the very few companies that pay for products insurance so as in the event of a failure in our work for any reason we are able to rectify the work as necessary. Note LSE have never had to claim from this insurance.

Service Contract

LSE Building Preservation Ltd offer a maintenance contract that involves checking and servicing the system annually, including proving the efficacy of the channels, hosing them out if required, cleaning out the sump/s and testing the pumps where present and subject to this, the initial ten year guarantee will run on as long as the maintenance contract does, so in theory is not limited in time.

The maintenance contract is charged annually from the start of year two, with the basic charge for this as shown in our quotation, reviewed five yearly. It covers the on-site service and a ‘service pack’, including replacement of important seals and valves, along with alarm batteries, within the price.

Extra charges will occur in time. For example, pumps and main batteries are covered under the manufacturer’s guarantee for one year then replaced as and when necessary at cost, plus 25% mark up. This must include main ‘battery backup’ batteries every three years where present, to ensure that they remain in good working order. Current prices (for guidance) are available on request.

A maintenance contract must be taken out to qualify for our guarantee and to qualify for insurance as the channels, sump/pumps, and batteries must be serviced to ensure that the system performs the function for which it is designed.

Guarantees and Insurance

Work undertaken by LSE Building Preservation is covered by written guarantees for ten years subject to the maintenance contract above. LSE Building Preservation maintains Professional Indemnity Insurance covering the advice and design specification given on the property together with Product Liability Insurance covering the work of ‘product’ installed – including workmanship. This basically protects both the client and LSE Building Preservation in the event of a claim.

What the public do not realize is that 98% of the other 2,500 or so purported specialist remedial companies in the UK keep them in ignorance of the fact that in the event of a claim when not insured, the company’s guarantees are only as good as their often inadequate net assets.

Whilst LSE Building Preservation continues to trade you have the protection of our Professional Indemnity and Product Liability insurances, but how can you protect yourself in the unlikely event that LSE Building Preservation ceases to trade?

To cover even this remote possibility we offer Guarantee Protection Insurance (GPI) on the system. This is a one-off payment for a period of ten years covering the installation, matching the initial guarantee period and protecting the client in the event of LSE Building Preservation ceasing to trade for any reason. It is a valuable document, becoming part of the deed package in the event of a transfer of lease or property sale, envisaged that the insurance can be extended at the end of the initial ten year period at the going rate at that time, subject to the system being in good working order and under an ongoing maintenance contract.

Because of the above, LSE Building Preservation believes it offers the best protection available to its clients both while it continues to trade and should it ever cease to trade.

Note:

Unlike Manufacturer guarantee schemes where a guarantee fee is frequently taken into the profit and loss account and seldom held as an asset by the Manufacturer, with the statement that it is ‘insurance backed’, usually meaning that it may include ongoing calamity insurance to protect against large claims, the GPI scheme is not vulnerable to a Manufacturer ceasing to trade, an occurrence that has happened may times in the past, leaving their so called backup ‘insurance’ guarantees worthless. Companies that have ceased to trade include The Mutual Guarantee Company, Catamance, Burma Solignum, Tomas Ness etc., GPI being FSA regulated ensures that sufficient funds are ring fenced to meet all expected claims from the insurances written for the next 20 years.

What do you know about our competitors who are also quoting you?

The company is an Appointed Representative (AR) of GPI.

GUARANTEES AND INSURANCE: Type C

The proposed works for cavity membrane installation below ground level will be covered by our 10-year written Guarantee when installed to our specification.

Please note:-

We have also allowed for the Guarantee Protection Insurance Ltd policy for the cavity membrane installation which will be applied at a one payment only premium which covers the installation for a period of 10 years, so as in the unlikely event that LSE Building Preservation should cease trading for any reason the work will still be guaranteed.

GUARANTEES AND INSURANCE:

The proposed works for the injection of a chemical damp proof course to prevent further damp, will be covered by our 30-year Guarantee, when installed to our specification.

Please note:-

We have allowed for The Guarantee Protection Insurance Ltd Policy which will be applied at a one payment only premium of £91.00 which covers the dpc installation for a period of 20 years. In the unlikely event that LSE Building Preservation should cease trading for any reason the work will still be guaranteed.

GUARANTEES AND INSURANCE:

The proposed works for tanking will be covered by our 10-year Guarantee, when installed to our specification.

Please note

We have also allowed for the Guarantee Protection Insurance for the cementitious tanking installation which will be applied at a one payment only premium which covers the installation for a period of 10 years, so as in the unlikely event that LSE Building Preservation should cease trading the work will still be guaranteed.

Genuine insurance backed guarantees can only be offered by qualified companies who are full members of the BWPDA and have been assessed at the British School of Waterproofing.

LSE Building Preservation also pays for full product insurance (unlike most other companies) which guarantees that in the event of a failure of our work for any reason funds would be available to rectify any problems.

Important Note

The Company issues Certificates of Guarantee on full payment of the account, including any retention.

Status Disclosure

LSE Building Preservation Limited is an Appointed Representative of Guarantee Protection Insurance Limited which is authorised and regulated by the Financial Services Authority.

Demands and Needs Statement relating to the offered Insurance

This product is the only insurance product of its type currently available and meets the demands and needs of those who wish to ensure that the guarantee provided by a contractor who has treated wood boring beetle, dry rot, wet rot, rising damp, or has provided replacement wall ties, lateral restraints or structural waterproofing is fully secured.

Should you have any queries on the above or any complaint against the Appointed Representative regarding the Insurance, please contact the GPI Limited at:

27 London Road, High Wycombe, Bucks. HP11 1BW
Tel: 01494 447049
Fax: 01494 465194
Email: Enquires@gptprotection.co.uk

We trust this covers your present requirements and look forward to being of service to you. If you require any further assistance on this or any other matter, please do not hesitate to contact us directly. We remain,

Yours sincerely

I. M. MacLennan
C.S.R.T. A.Inst SS&E