Episode 18: Contract Formalities
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Episode 18: Contract Formalities
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In this episode, we take a deeper look at the formal requirements of a Victorian building contract and why getting the details right at the start is so important. We explain how party details operate in domestic building contracts, the difference between contracting with an individual builder and a building company, and why companies are separate legal entities.
We also discuss the role of nominee directors, the risks associated with licence lending, and why the builder named in the contract must match the builder named on the domestic building insurance policy. This episode is designed to help homeowners understand how seemingly minor errors in contract details can have serious consequences if a dispute arises or insurance needs to be relied upon.
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