What is a security?
A security is a financial guarantee that any contractor holding a licence must file to guarantee the fulfilment of its contractual obligations toward its customers.
All contractors are required to provide a licence security, according to the Régie du bâtiment du Québec (RBQ), other than those licensed exclusively in the general contractor sub-categories for new residential buildings, accredited with a guarantee plan. This requirement establishes increased protection, since it provides for compensation of those who have suffered damages from defective execution or non-execution of construction work.
The security offered by the ACQ is available to all contractors in the IC/I and Residential sectors.
The licence security is intended to compensate any customer who has suffered damages arising directly from:
- Advance payments
- Non-finalization of work
- Defects and flaws discovered during the year following the completion of work
The security does not cover:
- The debt obligations of persons who took part in the construction work
- Damage arising from a delay in the execution of construction work
- Damages in compensation for moral prejudice
- Punitive damages
What we Offer You
RBQ LICENCE SECURITY
Exclusive to ACQ members
All contractors must provide a licence security, according to the Régie du bâtiment du Québec (RBQ), other than some licence categories for residential building contractors. The amount of a security required by the RBQ is:
- $20,000 for trade contractors;
- $40,000 for general contractors.
SECURITY FOR FRAUD AND EMBEZZLEMENT
The ACQ provides security for fraud and embezzlement to contractors accredited with the Garantie de construction résidentielle (residential construction guarantee – GCR). Simply apply to your regional association by filling out an application form. You also need to provide a copy of your GCR accreditation certificate.
The amount of the security required by the GCR for fraud and embezzlement is $20,000.
The ACQ offers the best solution on the market for guarantees! With a guarantee from the ACQ, you meet your GCR financial obligations without having to tie up large sums of money. In return for an annual amount, the ACQ provides you with a guarantee enabling you to obtain or maintain your GCR accreditation.