ᐅ Bank guarantee from the roofer due to defects in the roof

Hello everyone,

We are experiencing some minor issues with our roof and the contractor responsible for it. After three rounds of fixing various defects (faulty underlay membrane, holes in the roof filled with expanding foam, missing clip fasteners, etc.), everything has now been repaired and completed—except for the storm clips. These were not installed correctly or according to the required installation pattern but were placed randomly.

Since the scaffolding is finally going to be removed (it is obstructing the utility groundwork), we have agreed with our project manager that the roofing contractor will give us a €2000 discount and provide a performance bond of another €2000, which will cover a 5-year warranty period.

What exactly does such a performance bond entail? How is it arranged, and are there any disadvantages for me? Would this appear on MY credit report? I honestly have no idea what to expect! Above all, what would our lending bank think about this? Would they even be informed?

I’m a bit at a loss right now...

If the work is not done correctly, it needs to be fixed. Otherwise, the defect retention is of little use...

In general, a guarantee you receive is basically a positive thing. Your credit report (Schufa) also shows nothing negative (a received guarantee is not a "liability" but rather an "asset"). Nothing is recorded there; it is just a payment promise from the bank (with conditions). Your bank will not be informed about this.

Otherwise, the opening sentence still applies...

Golfi90 schrieb:

What exactly should I understand by such a guarantee?

Land. A piece of paper that is like cash for you and just lies around. Nothing more, nothing less.

And then after 5 years? You notice that there is water in the cavity...

This concerns EXCLUSIVELY the storm bracing. Everything else has been properly addressed.

And why isn’t this fixed as well?