The GIW (Garantie Instituut Woningbouw) was the Dutch organisation that administered the well-known GIW warranty on newly built homes. This warranty protected buyers against building defects and against the bankruptcy of the contractor during construction. The GIW scheme has since been succeeded by warranties from Woningborg, SWK and Bouwgarant, among others.
Application
The GIW warranty was issued when a new-build home was purchased. It offered the buyer two kinds of security: the completion guarantee, which had the home finished if the contractor went bankrupt, and the repair guarantee, which obliged the contractor to remedy defects within the warranty period. Buyers recognised the cover by a GIW certificate.
Although the institute itself no longer exists, the principle has been taken over unchanged by today’s warranty bodies. Anyone buying a new-build home now receives a comparable warranty certificate.
Characteristics
Characteristic of the warranty scheme is the combination of protection during construction and after handover. The warranty period for defects was usually six years, with a longer period for serious structural defects. In the event of disputes, the buyer could turn to an independent disputes committee. This makes the warranty an important part of consumer protection in housebuilding.
Related terms
- warranty certificate
- building warranty
- handover
- building defect
- housing defects
- contractor
Learn more about building terms in our knowledge base at fredsdiyplans.com.