Insurance Back Guarantee
The Manufacturers’ Guarantee
All product guarantees must be provided to the consumer free of charge and be in line with any conditions set out in the MCS product standards. By law, these guarantees must not limit the statutory rights. These will be provided within the handover pack issued to you upon completion of commissioning of your renewable technology.
The Installation Guarantee
In addition to our legal obligation to give customers a free guarantee against manufacturing faults in goods supplied, we must guarantee the installation work for a minimum of two years. This guarantee must be transferable. If the customer sells the property where the installation is located then the guarantee must be transferable to the new property owner.
This guarantee must be insured to ensure that this workmanship guarantee will be honoured if RES Devon Ltd fails during the term of the guarantee offered. A number of insurers offer policies to insure the warranty and these are known as Insurance Backed Guarantees (IBG).
Insurance Backed Guarantees
An Insurance Backed Guarantee (IBG) is an insurance policy that backs the original guarantee given by a contractor. It provides a consumer with cover for an installation in the event that their MCS certified contractor ceases to trade. The Consumer Codes that work in conjunction with MCS, place an obligation on their members to provide an IBG and offer enhanced levels of protection to consumers.
As with terms in a contract of sale, terms in guarantees cannot limit (or replace) the rights consumers have in law. This means that they can’t be used to limit the liabilities of the retailer or the manufacturer. For example, irrespective of the guarantee you give to your customers, they have a right to complain about faulty goods for up to six years after the purchase (within five years of the fault becoming apparent in Scotland).
Insurance Backed Guarantees as part of MSC accreditation
As an MCS certified Contractors we will issue your IBG via IWA at the same time that we raise the MCS certificate for an installation. These IBGs extend to the following renewable technology installations: Solar PV, Air Source Heat Pumps, Ground Source Heat Pumps, Battery Storage and Biomass. IBG contracts can be purchased for either domestic or commercial MCS certified installations
IWA has been providing Insurance Backed Guarantees since 1985 protecting both suppliers and customers with policy cover that provides peace of mind for up to 10 years.
Protection at the highest level
Authorised by the Financial Conduct Authority, IWA’s IBGs provide IBGs for renewable technology installations with:
Cover for up to 10 years
An IBG that is fully transferable to the new homeowner
Covered by the Financial Services Compensation Scheme (FSCS)
MCS/IWA Insurance Policy Terms and Conditions
Guarantor: IWA, 18 & 19 Babbage House, Northampton Science Park, Kings Park Road, Moulton Park, Northampton NN3 6LG
IWA is authorised and regulated by the Financial Conduct Authority.
All cover provided is subject to the terms and conditions contained within the policy document once issued.
In the event of any defect arising in the works the matter should immediately be reported to the MCS certified Contractor. If a defect becomes apparent to the policy holder and the Installer has ceased trading, the IWA must be advised within 30 days. The policy holder must supply all details and proofs as may be reasonably called for by the IWA. IWA shall have the right to inspect the Works and the policy holder must complete the claims process in full. For full terms and conditions, the policy must refer to the policy document
The Policy Holder can assign his interest under the IWA Guarantee to successors in title, provided:
a) the successor is the owner occupier of the address of installation of the works.
b) the period of Guarantee has not expired.
c) the contractor has not ceased trading.
d) the application for transferring to successor in title must be made within 30 days of receipt of the policy, from the previously named policy holder.
Enquiries and Complaints
Any enquiries or complaints you may have regarding your IBG should be addressed to IWA, 18 & 19 Babbage House, Northampton Science Park, Kings Park Road, Moulton Park, Northampton NN3 6LG. Please quote the MCS certificate number for the installation.
For more information about IWA, please visit, www.iwa.biz